We’re excited to share that Bactana Corp., a Propel(x) portfolio company, has been acquired by Kemin Industries, a global leader in ingredient manufacturing.
Propel(x) investors and our Newton Fund invested in Bactana’s Series A round in 2018. Since then, we’ve watched the company grow from a university-based research project into a fast-scaling gut health innovator with global potential.
Bactana was founded at Cornell University’s McGovern Center and later supported by the University of Connecticut’s Technology Incubation Program (TIP). During this time, the team developed breakthrough solutions in probiotics, postbiotics, and gut microbiome health.
Bactana’s science-driven approach focuses on improving animal health, with promising opportunities for future human health applications. With this acquisition, Kemin Industries’ global reach and research expertise will help bring these innovations to markets worldwide.
This acquisition represents a major milestone for Bactana and a successful exit for Propel(x) investors. We’re proud of the Bactana team, led by John Kallassy, and grateful to our investor community for supporting this journey.
🔗 Read the full press release: https://lnkd.in/g94geyvE
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