South Korean biotech company Advanced Protein Technologies (APTech), has secured a new funding round totaling €15 million for its development of Human Milk Oligosaccharides (HMOs). The funding included backing from French ingredient giant Roquette’s investment arm.
A producer of new prebiotics, APTech is developing technology for the production of more HMOs found in higher concentrations than in human milk. Leading international food companies include HMOs in their infant formula and baby food owing to its various proven direct health benefits, with the HMO annual market potential currently forecast at $1.5bn for 2026.
The equity was raised from new and existing investors including Roquette Ventures and will be used to commercialize APTech’s HMOs which have recently been authorized by the US Food and Drug Administration as well as the South Korean Ministry of Food and Drug Safety. Founded in 2015, Roquette Ventures is the investment arm of French plant-based ingredients specialist Roquette, which recently announced plans to open the largest pea protein plant in the world.
“This new investment from Roquette Ventures confirms the strong interest of our differentiated technology to enter the fast-growing HMOs market. With our recent authorization from the US Food and Drug Administration and the South Korean Ministry of Food and Drug Safety, we are now able to sell our HMOs and will leverage Roquette Ventures’ support to provide the market with our products internationally,” commented Chul Soo Shin, CEO of APTech.