Porto startup raises €9.5 million to eliminate allergy risks
Pfx Biotech received funding through the European Innovation Council's Accelerator programme
Porto-based startup PfxBiotech, founded in 2022 and incubated at UPTEC, recently received funding of 9.5 million euros through the European Innovation Council's (EIC) Accelerator programme. The company intends to use this funding to scale up the production of human milk proteins through precision fermentation, in order to eliminate the risk of allergies.
Through this process of precision fermentation, Pfx can produce highly bioactive alternative human milk proteins, creating a new category of ingredients that will support and boost the immune system. The company brings a wealth of experience in dairy proteins, fermentation, molecular biology, scale up, and open innovation, seeking to create products that are environmentally friendly, sustainable, and socially responsible.
The European Innovation Council (EIC) Accelerator programme has supported more than 71 companies out of a total of 1,211 applicants (16 of which are Portuguese), representing a total amount of 387 million euros.
