0
Home
News
Directory
E-newsletter
Magazine
Events
Data
AgReport
Subscribe
THYMOX Closes $4.6M Series B Financing Round
May. 9, 2017
Thymox Technology
CanadaFollow
CanadaTHYMOX™, the breakthrough, botanically-derived disinfectant, has announced the closing of a $4.6 million Series B financing round. The round was led by current investors, Cycle Capital Management and Desjardins Innovatech, and attracted new investors including Germain Benoit from Gercanoit. The funds will primarily be used to accelerate international commercial expansion of THYMOX™ as a disinfectant for animal health and crop protection, and into institutional and retail markets.
“We are entering a very exciting phase of our company’s growth,” said Frank Palantoni, CEO of Laboratoire M2, the makers of THYMOX™. “We’re extremely pleased to welcome our new investors to this round, and also to see our current investors, Desjardins Innovatech and Cycle Capital Management, participate. We now have the resources to globally commercialize our greentech disinfecting technology platform.”
“Bringing a new biological solution with such broad applications into new markets is a significant challenge. We’re proud to partner with a great entrepreneurial team to meet the challenge and pursue commercial growth,” added Andrée-Lise Méthot, Founder and Managing Partner at Cycle Capital Management.
Citing the company’s expanding commercial frontiers, Jacques Perreault, Vice President of Desjardins Innovatech, commented, “We are enthusiastic about partnering with the management team and the shareholders of Laboratoire M2 to support their next phase of growth and development. They have a strong business plan, their product, Thymox, is innovative, and they are evolving in a fast growing market close to Desjardin’s values.” Desjardins Group is one of Canada’s leading cooperative financial groups with more than $200 billion in assets.
2017 represents a major milestone year for THYMOX™, as the company successfully pivots from technology development to full scale commercial expansion on three continents. “We remain on track in developing THYMOX sales momentum in our Animal Health business, and we are launching new products for our surface disinfecting markets,” Palantoni added, “and of course, our robust pipeline of innovation includes products to meet the ever increasing demand for botanically derived crop protection products. With our accelerating commercial momentum, we expect to continue to attract partnership interest from major strategic players in the Animal Health sector.”
THYMOX is a highly effective, biodegradable, non-toxic, concentrated disinfectant which is instantaneously dilutable and stable in water, an important advantage for all commercial applications. The effectiveness of THYMOX is based on the action of thymol, a botanically derived, active ingredient found in the plant thyme. THYMOX has strong anti-microbial properties and kills pathogenic microorganisms on surfaces and in agricultural settings without harming living tissue or the environment.
About Laboratoire M2
Laboratoire M2, based in Sherbrooke, Canada, has a well-respected reputation for product innovation and expertise in environmentally sustainable, green disinfection and bio-security technology under the trademark THYMOX™. The company currently markets a range of leading propriety, biodegradable, anti-microbial products which are environmentally compliant (UL Ecologo2794). Its line of animal health products includes THYMOX HOOF® (also sold as THYMOX FOOTBATH™) which is used on dairy cows as an aid to control digital dermatitis (DD). The company estimates that the use of THYMOX™ will remove millions of pounds of toxic chemicals from the farm workplace and the environment as it replaces toxic and heavy metal compound based products. THYMOX™ also distributes products and ingredients under private label agreements in institutional, retail, and crop protection markets. For more information about THYMOX™ visit: thymox.com
Source: Thymox Technology
More from AgroNews
Change
Hot TopicSubscribe
| Subscribe Email: | * | |
| Name: | ||
| Mobile Number: | ||
Comment
0/1200
NEWSLETTER