The biotech BIOM, has successfully closed an investment round of €750,000 led by BeAble Capital, a fund specializing in ‘science equity’ leader in Spain and a pioneer in Europe that focuses on disruptive technologies with scientific basis and a high sustainable component that drive the Spanish and European technological re-industrialization.
This funding will allow the biotech, a spin-off of the Pompeu Fabra University of Barcelona, to advance in the manufacture and commercialisation of innovative products with applications in key sectors for Spanish industry such as agriculture, through innovative formulations based on living microorganisms.
By developing biotechnological solutions based on living microorganisms, bioactive molecules and new biomaterials, BIOM aims to make industries more efficient, sustainable and environmentally friendly. For example, in aquaculture, it offers an alternative to the use of antibiotics to reduce the occurrence of infectious diseases in fish farms.
Biotech also produces and commercialises culture media optimised for the industrial production of microorganisms with a high impact on the pharmaceutical, cosmetic, agricultural and biofuel industries, among many others.
A clear example is the use of Trichoderma, which acts as a natural protector and promoter of plant growth. In the agricultural sector alone with the use of fertilisers, this fungus moves almost 2,000 million dollars, i.e. more than €1,700 million, worldwide, with a projected annual growth rate (CAGR) of 9.5% until 2032(1). In addition, Spain has a high growth potential in agricultural biotechnology due to its leadership in intensive and organic agriculture in Europe.
Industrialisation; strategic alliances
Therefore, BeAble Capital is strategically committed to the development and growth of our technology industry, specifically in industrial biotechnology, and has already invested more than €7,000,000 in early stage ‘deep science’ startups. In fact, since its creation in 2016, it has already founded or invested in more than 45 companies, increasing the generation of science-based industrial companies in Spain by more than 10%.
Indeed, to boost European industry, McKinsey in its report ‘Europe in the Smart Era: from Ideas to Action’(2) identifies biotechnology and agri-technology or advanced materials, among others, as key areas. And it points out that this ‘deep technology’ promises higher returns than traditional technology. Because investments in ‘deep tech’ outperform those in traditional technology, producing an average net Internal Rate of Return of 17% compared to 10% respectively, according to the consultancy.
In this regard, Almudena Trigo, founder and president of BeAble Capital says ‘investing in key sectors for the development of the Spanish technology industry should be a strategic axis of our economy, we are talking about highly disruptive technologies with competitive and sustainable advantages that meet unmet needs in high-growth markets such as BIOM’.
As part of this process, the Catalan biotech company is entering the industrial production phase with Reactivos para Diagnóstico (RPD). Its industrial partner, specialised in the production of culture media for microbiology, which has decided to bet on the disruptive and competitive nature -in the era of sustainability- of this biotech's innovations. A field in which, after 25 years of success manufacturing products that are now distributed on five continents, it is entering for the first time.
According to Inés Arteaga, partner and CEO of BIOM, ‘this support is a strategic milestone that will facilitate the scalability of our disruptive technology, reducing the environmental impact, since in addition to increasing productivity, our biomaterials and bioprocesses generate less toxic waste, consume less energy and water, and contribute to reducing polluting emissions’.
Knowledge transfer
On the other hand, universities and research centres play a crucial role in the emergence of these ‘deep science’ start-ups. According to Vanesa Daza, vice-rector of Knowledge Transfer at the UPF, ‘projects like BIOM demonstrate the transformative potential of university research when it connects with the business world. Universities not only generate knowledge, but we are also drivers of real innovation when we promote the transfer of knowledge to society, which is why it is essential to strengthen the connection between science and business by creating a more dynamic and collaborative ecosystem.
Although Spain has registered the highest growth in Europe in terms of European patent applications, with an increase of 44% in the last decade according to the European Patent Office, it is far behind European countries in terms of investment in biotechnology. Although it ranks 9th in scientific production worldwide, Spain continues to lag behind in converting this knowledge into tangible innovation, ranking 28th in the Global Innovation Index(3).
We are at a crucial moment in which it is necessary to consider a new sustainable industrial and economic model. Only with the technologies of ‘deep science’, whose sectors include biotechnology, will it be possible to solve challenges for our survival such as greener energy and better storage, water, waste revaluation, new materials or the elimination of pollutants.
(1) Trichoderma fertiliser market report: a comprehensive analysis to 2032 by WGR, a market research consultancy.
(2)Europe in the Age of Intelligence 2025: From Ideas to Action study by McKinsey
(3) Global Innovation Index 2024 by the World Intellectual Property Organization (WIPO).
About BeAble Capital
Spanish fund manager specialised in investing in highly disruptive startups, i.e. deep science technologies such as nanotechnology, micro and nanoelectronics, photonics, advanced materials or industrial biotechnology in the fields of energy, circular economy, environment and wellbeing.
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