BioFeyn: better feed for better fish
Issuer: BioFeyn
BioFeyn: better feed for better fish
BioFeyn: better feed for better fish
BioFeyn: better feed for better fish
BioFeyn: better feed for better fish
BioFeyn: better feed for better fish

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BioFeyn: better feed for better fish
Issuer: BioFeyn

BioFeyn is an ocean life sciences company. By translating technology originally developed for human medicine, we are making exponential advancements in aquaculture by increasing fish health, nutrient density, and sustainability.

Problem

Aquaculture is the fastest growing food production sector. And yet, the industry remains challenged by inefficiencies that result in poor animal health, mortality, and pollution.

More than half of the costs of fish farming are related to feed. Of that, approximately half are high value ingredients like omega-3s, vitamins, and non-protein nutrients. 

Unfortunately, these are often both poorly absorbed in animals and cause harm to the environment - either from over-harvesting the natural resources where they are originally found or as a result of leaking back into the ocean. 

BioFeyn solution

We have developed specialized (patent-pending) biodegradable nanoencapsulations that protect marine ingredients and amplify their effect. Trace amounts of marine nutrients are surrounded by a shell of other naturally-derived compounds, ensuring better digestion, absorption, bioavailability, and delivery to target tissues. This helps animals grow and remain healthy, while alleviating pressures on increasingly scarce marine ingredients. 

We can reduce the amount of marine ingredients that are needed, in some instances up to ten-fold. This both minimizes environmental pressures associated with acquiring these important nutrients, like omega-3s, and reduces the pollution caused when these nutrients are released back into the marine environment.

Billions of dollars have already been invested to develop this technology for human nutrition, medicines, and vaccines. Both the Moderna and Pfizer, for example, use a form of this technology in their coronavirus vaccines. Our team, experienced in human biomedicine, is bringing these understandings of and connections into aquaculture. With far lower regulatory barriers and time horizons to revenues, aquaculture is positioned to be an avid adopter of this technology.  

BioFeyn is starting small, literally with nanomaterials - but we have plans for rapid scaling across aquaculture and beyond into land-based agriculture and cultivated meat, creating a 3-in-1 case for opportunity and return. In time, we plan to become the first global-scale life sciences company with an ocean origin, offering continued commitment to ocean sustainability and translational impact.

 

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Investors (existing and committed)

  • SOSV/IndieBio: largest seed and pre-seed biotechnology investor globally. Have previously invested in BioFeyn and have committed additional funds to on-going seed raise.
  • Entrepreneur First: Deep-tech incubator with a total portfolio value of $ 4bn; first investor in BioFeyn and have committed additional funds to on-going seed raise.
  • Katapult Ocean: Leading early-stage ocean/aquaculture investors. Have screened 13,000 startups and invested in 34. Based in Oslo, Norway. Committed funds to on-going seed raise.
  • Blue Angels: Boston-based ocean-focused angel syndicate. Committed funds to on-going seed raise.

Scientific partnerships

  • Italian Institute of Technology: BioFeyn’s research team is partially based here, the leading center for nanotechnology in Italy and one of only several in Europe.
  • University of Exeter: Timothy is an affiliated researcher; upcoming BioFeyn work is budgeted to be undertaken with the Sustainable Aquaculture Futures Program at the Aquatic Research Centre.
  • Wageningen University: BioFeyn has collaborated with Wageningen, ranked #1 agricultural university in the world, on a number of projects, including the design of BioFeyn’s fish trials and a sustainability assessment.
  • Tufts University: BioFeyn is working with the leading academic cultured meat laboratory, the Kaplan group, on a number of topics ranging from US government funding to creating a cellular agriculture research center.
  • University of Florida: Prof James Anderson, previously head of the Global Program on Fisheries and Aquaculture at the World Bank, is an advisor to BioFeyn, among other prominent University of Florida academics.

Industry endorsements

  • Nofima: The leading Norwegian fisheries and food research institute has proposed partnering with BioFeyn on a range of topics from improving consumer perception of Norwegian salmon to nutrient absorption and retention in salmonids
  • The Salmon Group: The world's largest network of local, family-owned fish farming and aquaculture companies, is planning to include BioFeyn nutrients in its Q1 2022 fish trials
  • Leading Global Feed Producer (NDA in place): Producer of terrestrial animal and aquatic animal feed has been collaborating with BioFeyn for over a year, planning trials for early 2022.
  • Early phase animal health and feed companies (NDAs): Seven independent animal health and feed companies have signed agreements to investigate the use of BioFeyn technology to enhance products

Prizes

  • EIT Food: BioFeyn won $11,500 in non-dilutive funding and 9 months of training from the EU’s leading food innovation initiative and was a finalist in EIT Fan (BioFeyn has since relocated and is now a Delaware c-corp)
  • BlueInvest: BioFeyn won the Europe wide 2020 BlueInvest award in the category “Food and Feed from the Oceans”

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