Novo Holdings leads EUR 29M investment in bio-based silk supplier AMSilk

- Company to accelerate industrial scale-up of its high-performance bio-based silk polymers and expand commercial operations into new markets

- This is the 12th investment in bioindustrials by Novo Holdings

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Novo Holdings

May 11, 2021, 03:00 ET

COPENHAGEN, Denmark, May 11, 2021 /PRNewswire/ -- Novo Growth, the growth equity arm of Novo Holdings, today announced that it has led a EUR 29 million series C investment in AMSilk, the world's first industrial supplier of synthetic silk biopolymers. The financing also included new investors Cargill and E.R. Capital Holdings as well as existing investors MIG Verwaltungs AG and ATHOS KG. Kartik Dharmadhikari, Partner and Anders Bendsen Spohr, Senior Partner at Novo Holdings will join the Supervisory Board.

AMSilk is a world leader in supplying innovative high-performance bio-based silk materials with a vision to use its proprietary technology platform to lead the change to better and more sustainable products. Its products are made from plant-based raw material via bacterial fermentation, are extremely versatile with extraordinary mechanical and biochemical properties, and have applications across many industries. The environmentally friendly, sustainable silk biopolymers can be fully recycled and are 100% biodegradable. These materials are revolutionizing products such as high-performance sports clothing as well as driving state-of-the-art biomedical developments including medical implants.

The financing will accelerate the ongoing scale-up of AMSilk's industrial projects worldwide and drive further the internationalization of its commercial activities as it continues to expand its customer base into new markets.

Kartik Dharmadhikari, Partner at Novo Growth, said: "AMSilk's technology has the potential to revolutionize a number of industries and be part of the decarbonization push needed to overcome the biggest environmental challenges of our time. The Company has made immense progress in enhancing its high-performance bio-based materials and we are delighted to lead this financing which will enable the team to expand the business globally. This investment underscores Novo Holdings' commitment to backing companies that will have a long-term, sustainable impact on society."

Ulrich Scherbel, Chief Executive Officer of AMSilk, said: "Together with our customers we work to create high-performance bio-based materials with the potential to revolutionize product offerings and drive change across various industries. It is exciting to have the support from high-technology investors, led by Novo Holdings, to make our silk polymers available in industrial quantities to an even broader range of customers and industries." Dr Wolfgang Colberg, Chairman of the Advisory Board, added: "With the inspiring support of our new and existing shareholders, we are in a strong position to establish AMSilk as one of the leading bio-materials companies in the world."

Anders Bendsen Spohr, Senior Partner at Novo Holdings, added: "We are very impressed with the work of the whole team at AMSilk. The team is now putting the building blocks in place needed to accelerate the scaling of production to respond to industry and consumer demands and we're thrilled to help fuel their momentum. We look forward to contributing to the growing commercial success of the company with Ulrich, his team and our fellow investors."

Novo Holdings has a strong heritage with world-leading bioindustrial companies like Novozymes and Chr. Hansen and believes in the ability of biotechnology to deliver global sustainable solutions across many industrial sectors. This is the 12^th investment by Novo Holdings in the bioindustrial space. In addition to AMSilk, the Group's portfolio of bioindustrial companies includes: LanzaTech, Vestaron, Kebotix, bioMASON, MycoWorks, Protein Brewery, Biophero, Chromologics, Biosyntia, Deep Branch, and Bactolife.

About Novo Holdings A/S

Novo Holdings is recognized as a leading international life science investor, with a focus on creating long-term value. As a life science investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. Further information: http://www.novoholdings.dk

About AMSilk

AMSilk GmbH is the world's first industrial supplier of vegan silk biopolymers and has its headquarters in Planegg, near Munich, Germany. AMSilk's high-performance biopolymers have the unique functional properties of the natural product they are based on. AMSilk offers its innovative range of high-performance Biosteel® fibers for textiles and industrial applications worldwide and has announced collaborations and partnerships with world leading brands like Adidas and Airbus. The organic high-performance material can be used in multiple ways and is suited for medical devices as well as for personal care products. AMSilk high-performance biopolymers give such products unique properties. Among other things, the polymers are biocompatible, safe and robust. AMSilk invites you to discover more at www.amsilk.com

SOURCE Novo Holdings