Enzymotec secures new funding

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Israeli phospholipids specialist, Enzymotec, has raised $11 million (€8.54m) from its three major shareholders as well as a new investor – Arancia International, a privately owned Mexican ingredients developer with expertise in biotechnology and enzymes.

"We are excited to join Enzymotec and be a part of the development and production of lipid-based innovative health solutions,"​ said Arancia executive president, Luis Aranguren.

Enzymotec is in the process of finalising a further $7m (€5.44m) from a major Israeli bank.

“The successful completion of the financial round validates the strength and potential of Enzymotec, particularly given current economic conditions,"​ said Enzymotec president and CEO, Dr Ariel Katz.

He said the funding would allow completion of a new facility in Israel and back ongoing research and development.

Enzymotec’s existing shareholders are Galam Ltd, Ofer Hi-Tech Investments Ltd and Millennium II Materials Technology Fund L.P.

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