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PRESS RELEASE: AMSilk raises EUR 29M to accelerate commercialization of its high-performance bio-based silk polymers

05/11/2021 | 04:24am EDT
DGAP-News: AMSilk GmbH / Key word(s): Financing 
AMSilk raises EUR 29M to accelerate commercialization of its high-performance bio-based silk polymers 
2021-05-11 / 10:22 
The issuer is solely responsible for the content of this announcement. 
=---------- PRESS RELEASE ----------- 
AMSilk raises EUR 29M to accelerate commercialization of its high-performance bio-based silk polymers 
- Financing led by Novo Holdings with participation from Cargill and E.R. Capital Holdings 
- AMSilk to accelerate industrial scale-up and expand commercial operations into new markets 
Munich, May 11, 2021 - AMSilk GmbH ("AMSilk"), the world's first industrial supplier of synthetic silk biopolymers, 
today announces the successful closing of a EUR 29 million Series C fundraise. The financing was led by Novo Growth, 
the growth equity arm of Novo Holdings, with participation from new investors Cargill and E.R. Capital Holdings as well 
as existing investors MIG Verwaltungs AG and ATHOS KG. 
AMSilk is a world leader in supplying innovative high-performance bio-based silk materials with a vision to use its 
proprietary technology platform to lead the change to better and more sustainable products. Its products are made from 
plant-based raw material via bacterial fermentation, are extremely versatile with extraordinary mechanical and 
biochemical properties, and have applications across many industries. The environmentally friendly, sustainable silk 
biopolymers can be fully recycled and are 100% biodegradable. These materials are revolutionizing products such as 
high-performance sports clothing as well as driving state-of-the-art biomedical developments including medical 
The financing will accelerate the ongoing scale-up of AMSilk's industrial projects worldwide and drive further the 
internationalization of its commercial activities as it continues to expand its customer base into new markets. 
Ulrich Scherbel, Chief Executive Officer of AMSilk, said: "Together with our customers we work to create 
high-performance bio-based materials with the potential to revolutionize product offerings and drive change across 
various industries. It is exciting to have the support from high-technology investors, led by Novo Holdings, to make 
our silk polymers available in industrial quantities to an even broader range of customers and industries." Dr Wolfgang 
Colberg, Chairman of the Advisory Board, added: "With the inspiring support of our new and existing shareholders we are 
in a strong position to establish AMSilk as one of the leading bio-materials companies in the world." 
Kartik Dharmadhikari, Partner at Novo Growth, stated: "AMSilk's technology has the potential to revolutionize a number 
of industries and be part of the decarbonization push needed to overcome the biggest environmental challenges of our 
time. The company has made immense progress in enhancing its high-performance bio-based materials and we are delighted 
to lead this financing which will enable them to expand the business globally. This investment underscores Novo 
Holdings' commitment to backing companies that will have a long-term, sustainable impact on society." 
Asheesh Choudhary, Global Business Development Director, Bioindustrial at Cargill, added: "The apparel industry is 
demanding bio-based materials that are good for people and the planet. We are excited by AMSilk's innovation as it 
offers a sustainable and functional product to its customers. We are investing in AMSilk because our strategic 
interests are well aligned, and we are happy to be a part of enabling its growth." 
On behalf of the existing shareholders, Melissa Simon, ATHOS KG, stated: "As original investors in the company, we have 
witnessed the immense progress achieved to date and look forward to continuing to support AMSilk delivering on its 
vision." Michael Motschmann, General Partner at MIG AG, added: "As an AMSilk seed investor, we are proud of the great 
strides the company has made since inception. Our continued investment in AMSilk mirrors our vision to invest in early 
biotech and deep tech companies and advance innovations that can move the world forward." 
Kartik Dharmadhikari, Partner, Anders Bendsen Spohr, Senior Partner at Novo Holdings, and Melissa Simon from ATHOS KG, 
will join the Supervisory Board. 
For further information please contact: 
AMSilk GmbH 
Anja Kehl 
Tel: +49 (0)89 57 95 393-0 
E-mail: pr@amsilk.com 
Novo Holdings 
Optimum Strategic Communications 
Mary Clark, Manel Mateus 
Tel: +44 (0) 20 39 22 190 6 
E-mail: novo@optimumcomms.com 
About AMSilk 
AMSilk GmbH is the world's first industrial supplier of vegan silk biopolymers and has its headquarters in Planegg, 
near Munich, Germany. AMSilk's high-performance biopolymers have the unique functional properties of the natural 
product they are based on. AMSilk offers its innovative range of high-performance Biosteel(R) fibers for textiles and 
industrial applications worldwide and has announced collaborations and partnerships with world leading brands like 
Adidas and Airbus. The organic high-performance material can be used in multiple ways and is suited for medical devices 
as well as for personal care products. AMSilk high-performance biopolymers give such products unique properties. Among 
other things, the polymers are biocompatible, safe and robust. AMSilk invites you to discover more at 
About Novo Holdings 
Novo Holdings is recognized as a leading life science investor with a focus on creating long-term value. As a life 
sciences investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant 
ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of 
diversified financial assets. For more information: https://www.novoholdings.dk/news/ 
About Cargill 
Cargill's 155,000 employees across 70 countries work relentlessly to achieve our purpose of nourishing the world in a 
safe, responsible and sustainable way. Every day, we connect farmers with markets, customers with ingredients, and 
people and animals with the food they need to thrive. We combine 155 years of experience with new technologies and 
insights to serve as a trusted partner for food, agriculture, financial and industrial customers in more than 125 
countries. Side-by-side, we are building a stronger, sustainable future for agriculture. 
About MIG AG 
MIG Verwaltungs AG (MIG AG), Munich, is one of the leading German VC investors. MIG invests through MIG Fonds in young, 
deep tech and life science companies in German-speaking Europe and beyond. To date, the company has invested more than 
EUR 600 million in over 40 companies. MIG's portfolio companies develop innovations in biopharmaceuticals, AI / machine 
learning, quantum technologies, digitization / IoT, medtech and digital health. The MIG investment portfolio currently 
consists of 30 companies. MIG AG has successfully sold its portfolio companies SuppreMol (to Baxter in 2015), sunhill 
technologies (to Volkswagen in 2015), Ganymed (to Astellas in 2016) and Siltectra (to Infineon in 2018) and leads Brain 
(in 2017), NFON (in 2018), BioNTech (in 2019) and Immatics (in 2020) to listings on stock exchanges. https://www.mig.ag 
ATHOS KG is the family office of a German entrepreneurial family investing among others direct into companies with a 
long-term and entrepreneurial focus. 
2021-05-11 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 

1195159 2021-05-11

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(END) Dow Jones Newswires

May 11, 2021 04:23 ET (08:23 GMT)

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