CarboCode raised 15 Million Euros to produce milk formula ingredients closer to breast milk
CarboCode, a Portuguese biotechnology company, has raised 15 million euros in an investment round led by the Portuguese venture capital firm Iberis Capital.
CarboCode is a global pioneer for developing a technological platform that enables the large-scale production of glycosphingolipids and gangliosides identical to human ones.
Glycosphingolipids and gangliosides are compounds present in the human body, particularly in breast milk and the membranes of various organs, including the brain. They play significant roles in cognition, inflammation modulation, and gut health.
In the short term, this Series C investment round enables CarboCode to meet regulatory requirements in strategic markets, expecting to obtain the respective approvals in the European Union and the United States in 2027, and in China in 2028.
The company's technology will have innovative applications in infant nutrition, cosmetic and dermatological, and cognitive industries. CarboCode's first products will be gangliosides, which are currently absent from milk formulas, making them closer to breast milk.
CarboCode is headquartered at the Biotechnology Innovation Center in Biocant Park, Cantanhede, Portugal, home to its Development and Scale-Up facility. The company also operates a subsidiary in Konstanz, Germany, housing its Research Center.
CarboCode currently employs 35 highly qualified workers, including 16 PhDs. In the medium term, aligned with its growth objectives, CarboCode plans to strengthen its team by recruiting 15 more qualified scientists and researchers to support the development and optimization of its first-generation products and deepen scientific research into subsequent generations of gangliosides.
CarboCode’s industrial factory project is underway at the BioCant Park industrial complex and will have the capacity to produce 100 tons of gangliosides per year.
With an estimated turnover exceeding 100 million euros from 2029, CarboCode will operate in the B2B segment, channeling all its production for export, primarily producing breast milk formula ingredients for multinationals like Danone, Nestlé, Abbott, and Mead Johnson.
Jorge Santos, CEO of CarboCode, emphasizes, “Access to human-identical gangliosides presents a rare opportunity to make a real positive impact on people's lives. CarboCode's technologies enable the production of these compounds, driving our commitment to making this dream a short-term reality.”
