11 May 2017
THYMOX Closes $4.6 M Round of Investment
THYMOX™, manufacturer of a botanically derived disinfectant formula established in Sherbrooke, has announced the close of a $4.6 million series B round of investment. The round, led by current investors Cycle Capital Management and Desjardins Innovatech, attracted new investors, such as Germain Benoit from Gercanoit. The financing will primarily be used to accelerate the global commercial expansion of THYMOX™ as a disinfectant for animal health and crop protection, as well as in the industrial and retail markets.
“We are extremely happy to welcome new investors while counting on the continuing participation of current investors, Cycle Capital Management and Desjardins Innovatech,” said Frank Palantoni, President and CEO of Laboratoire M2, the manufacturer of THYMOX™. “We now have the resources to market our green technology disinfection platform worldwide.”
“Marketing a new biological solution that has as many applications in new markets is a tremendous challenge. We are proud to support a successful entrepreneurial team in pursuing the commercial growth of THYMOX™,” added Andrée-Lise Méthot, founder and managing partner at Cycle Capital Management.
Citing the company’s expanding trade frontiers, Jacques Perreault, Associate Vice-President of Desjardins Innovatech, stated: “We’re excited about collaborating with Laboratoire M2’s executive team and shareholders to support their next phase of growth and development. They have a solid business plan, their product, Thymox, is innovative, and they’re evolving in a rapidly growing market, a preferred investment sector for Desjardins.”
The year 2017 represents a major step forward for THYMOX™, as the business moves from the development of the technology to large-scale commercial expansion on three continents. “We’re on the right track by developing sales of THYMOX in the animal health sector and we’re launching new products for our surface disinfection markets,” added Mr. Palantoni. “Furthermore, our portfolio of innovative solutions includes products to answer the ever-growing demand for botanically derived crop protection products. With our current momentum, we hope to continue attracting the interest of key strategic players in the animal health sector.”
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