Microphyt, a French biotechnology firm, has secured 28.5 million euros ($32 million) in an equity funding round.
Co-led by Sofinnova Partners and BPI France via the SPI fund, the round also secured support from existing backers, Supernova Invest, Demeter Partners and Irdi Soridec.
Microphyt is planning to use the new funds to accelerate the development of its product portfolio, expand its sales network globally, and also boost the production capacity of the industrial platform.
With the latest funding round, the firm's total equity raised to date has reached $34 million in over four rounds of financing.