Microphyt

Microphyt is a France-based biotechnology company developing microalgae-based beauty and health solutions. The company’s main beauty products include 1) Luteana, an integrative solution to rebalance the neuro-immuno-cutaneous system, 2) Luteana Scalp, an oil-based bioactive for scalp care and dandruff treatment, 3) Phycosi, a bioavailable marine silicium for skin regeneration, 4) PhycoAge, a cell communication regulator for anti-aging, and 5) Renouvellance, a biomimetic ingredient for addressing the effects of UV rays and pollution.

Microphyt also offers ingestible nutrition products, including 1) BrainPhyt, for cognitive health, 2) GamePhyt, for cognitive performance, and 3) PhaeOptim, for healthy weight management. The company is also developing specialty ingredients for gut health, immunity, and joint health.

In July 2021, Microphyt launched SCALE, the first fully integrated microalgae biorefinery to accommodate the roll-out of new products and cater to growing demand. SCALE was funded by a EUR 15 million grant from the Bio-based Industries Joint Undertaking, a partnership of the European Commission and the Bio-industries Consortium. Microphyt expects its production capacity to increase five-fold throughout the four-year project, enabling the development of over 15 new microalgae-based ingredients. SCALE’s annual capacity is expected to be over 100 tons of high-value ingredients.

Key customers and partnerships

Microphyt partnered with L’Oréal to build a technological platform, bringing together material and human resources to develop raw materials from microalgae biomass for the formulation of new cosmetic solutions (November 2022).

As part of the SCALE project, Microphyt has also partnered with a consortium of 11 international players, including technology and energy solution providers like Evolys and SUNTI, end users in the nutrition and cosmetics markets like Paul Bocuse Institute, Plameca, Lallemand, and Chanel Parfums Beauté, regulatory players like Nutrasteward, consulting firms like TECNALIA and PNO Consultants, and the French Bioeconomy Cluster IAR (July 2021).

Microphyt also has a distribution partnership with global developer of fragrances Premier Specialties for US distribution of its cosmetic ingredients (February 2021).

Funding and financials

In November 2022, Microphyt raised EUR 15 million (~USD 16.1 million) in a Series B funding round led by Business Opportunities for L’Oréal Development (BOLD). The funds were used to accelerate the global marketing of its microalgae-based natural solutions. L’Oréal also acquired a minority stake in the company.