BASF invests in biotech company

Published: 1-Feb-2005


BASF Venture Capital is investing in Advanced BioNutrition (ABN), an emerging biotechnology company focusing on functional nutrition to prevent disease.

ABN has raised US$7.5m in its Series B financing, of which BASF Venture Capital is providing $2m. Other investors include US venture capital group Sherbrooke Capital and Swiss venture capital group SAM.

ABN has developed a vegetable-based diet for fish using a renewable source of docosahexaenoic acid (DHA) and arachidonic acid (ARA) that replaces the current and non-sustainable diet of fishmeal and fish oil, and an encapsulation technology that helps protect sensitive substances from harmful external influences such as changes in temperature or pH.

Spun off from Martek Biosciences in 2001, ABN set up its headquarters and laboratories in Columbia, Maryland, after raising $6m from its initial Series A financing.

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