Ghent, 10 January 2011
Qbic realizes its first investment in VIB spin-off AgroSavfe
Together with a strong investment consortium, Qbic invests 5 million EUR in the green agri-biotech company AgroSavfe. AgroSavfe, a VIB-VUB spin-off, develops innovative technology for sustainable crop protection. Qbic invests through the Qbic ARKIV Fund, together with GIMV, VIB, SOFI, PMV and other venture capital funds.
AgroSavfe will focus on the research and development of innovative formulations of crop protection products by means of the Agrobody technology that was developed in the VIB department of the VUB (Free University of Brussels). Crop protection products (e.g. insecticides, fungicides) with AgrobodiesTM as formulation agents (antibody fragments from camel antibodies) can be used at lower dosages or have a longer lasting effect without repeat applications and thereby contribute to improved and more sustainable agricultural production. AgroSavfe, which will be located in the VIB Bio-incubator in the technology park in Ghent, will employ 9 people under the supervision of CEO Marnix Peferoen (ex-CropDesign, ex Bayer Crop Science and Plant Genetic Systems).
Please see the VIB press release for more information on VIB and AgroSavfe.
For more information about Qbic’s life sciences investments please contact:
Els Hubloux– Qbic Investment Manager firstname.lastname@example.org
Marc Zabeau – Qbic Managing Partner email@example.com
Qbic is an inter-university early stage venture capital fund that invests in spin-offs of the universities of Ghent, Brussels and Antwerp and of their associated colleges and university hospitals. The Qbic Fund was established in May 2012 with an initial committed capital of 30,5 million EUR to support the creation of spin-off companies with both capital and hands-on support and coaching. The Qbic ARKIV Fund is a joint initiative with the ARKimedes II Fund.