Novo Holdings and EIFO completed a €7m investment in Chromologics.

Novo Holdings, a holding and investment company, and EIFO, a provider of government-backed financing solutions, completed a €7m investment in Chromologics, a biotech spin-out specializing in natural food colorants. “Our renewed, increased commitment reflects both Chromologics’ strong progress over the past five years and the growing market demand for natural, more sustainable alternatives to synthetic colourants. We continue to be impressed by the Company’s ability to develop a truly differentiated red colour, and by the maturity of its technology, which has already led to a competitive cost position with potential for further optimisation. The constructive dialogues with strategic players suggest that we can scale the business rapidly upon regulatory approval. We are confident that Chromologics’ technology and strategy will have a significant impact on the landscape for natural food colours,” Thomas Grotkjær, Novo Holdings Partner.