Proteon Pharmaceuticals – a Warsaw-based company using AI technology to protect livestock – has received $24.6m in funding from animal health firm Nutreco and aquaculture firm Aqua-Spark. The Polish startup was established with the aim of reducing animal agriculture’s reliance on antibiotics, creating animal health products as an alternative form of protection. The new round of funding will be used to commercialise their product line.
“The funds raised from investors will support the company’s efforts to reduce the use of antibiotics in livestock farming and to promote sustainable protein production – and ultimately, improve human health,” Proteon CEO Jarosław Dastych said in a statement.
“This investment increases our ability to make bacteriophages available to the global livestock and aquaculture markets,” added Matthew Tebeau, COO of Proteon Pharmaceuticals. “[h]ere they will increase the environmental sustainability of protein production as well as significantly reduce the need for antibiotics.”
Proteon says it eliminates the ‘unnecessary use of antibiotics in animals to protect human health.’ The startup uses AI to develop novel combinations of bacteriophages – a kind of infection that destroys harmful bacteria. These are then to create feed additives that act as protective measures for both terrestrial and aquatic livestock.
The team’s preliminary range targeted salmonella and e.coli, as well as common infections in fish farming such as pseudomonas and aeromonas. The use of antibiotics to treat conditions such as these proves problematic when the infections mutate to become antibiotic-resistant, rendering the medication ineffective.
“With antibiotic resistance being one of the biggest public health challenges of our time, it is imperative that we reduce the amount of antibiotics we use in animal farming,” said Mike Velings and Amy Novogratz, Co-founders of Aqua-Spark. “Proteon Pharmaceuticals is a leader in finding alternative, healthier ways to treat and prevent disease and we are proud to be a part of their current acceleration.”
Other investors in the latest round included Montis Capital, Seventure Partners, in addition to a group of Angel investors.
Sources:
https://www.proteonpharma.com/proteon-pharmaceuticals-secures-21-million-euro-to-accelerate-growth/
