DEINOVE validates key milestone 3 of its DEINOCHEM program and receives €0.8 million from ADEME

14.12.2016
  • ADEME has validated key step 3 of the DEINOCHEM program after the performance targets were met for the production of the compounds of interest.
  • DEINOVE is pursuing the development of its bio-based carotenoids aimed at the healthcare, nutrition and cosmetics markets.
  • In accordance with the aid agreement signed with ADEME, DEINOVE received approximately 0.8 million euros.

 

DEINOVE (Alternext Paris: ALDEI), a biotech company that discovers, develops and produces high value compounds from rare bacteria, notably from the Deinococcus genus, announces that it has validated the 3rd key milestone of its DEINOCHEM program, dedicated to the bio-based production of carotenoids and financed by ADEME (the French Environment and Energy Management Agency) under the “Investissements d’Avenir” (Investments for the Future) program.

This new key milestone validates the technical progress made in developing the carotenoid production process. The target thresholds for productivity and yield have been reached using optimized Deinococcus strains on the laboratory scale. Beyond genetic engineering, the following steps are already underway:

  • Development of a carotenoid extraction and purification process from the fermentation medium to obtain a marketable product;
  • Scale up of the carotenoid production process for industrial use;
  • Identification and selection of subcontractors ensuring rapid start-up for production.

The Company’s ambition is to market its first batches of the target compounds in 2018, and last November it announced that it had selected Processium, an expert in industrial process engineering, to work with on these developments.

“We are highly satisfied with these results, which validate the progress obtained in developing our bio-based carotenoids and confirm our strategic choices to refocus our activities on molecules with high added value,” declared Emmanuel Petiot, CEO of DEINOVE. “Carotenoids represent market opportunities worth several hundreds of millions of dollars in a wide range of applications in healthcare, nutrition and cosmetics. We are more than ever focused on getting to the market quickly.”

In accordance with the aid agreement signed in 2013, ADEME’s validation that the expected results have been obtained for the deliverables intended in Key Milestone 3 resulted in the payment, early December, of approximately €0.8 million in repayable advances.