Enzymotec secures new funding
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.