Laboratoire M2 Inc. the maker of THYMOX, the breakthrough, botanically-derived disinfectant, has closed a $4.6 million Series B financing led by Cycle Capital Management and Desjardins Innovatech, and with participation of new investors including Germain Benoit from Gercanoit.
Laboratoire M2 will primarily be used to accelerate international commercial expansion of THYMOX™ as a disinfectant for animal health and crop protection, and into institutional and retail markets.
THYMOX is a highly effective, biodegradable, non-toxic, concentrated disinfectant which is instantaneously dilutable and stable in water, an important advantage for all commercial applications. The effectiveness of THYMOX is based on the action of thymol, a botanically derived, active ingredient found in the plant thyme. THYMOX has strong anti-microbial properties and kills pathogenic microorganisms on surfaces and in agricultural settings without harming living tissue or the environment.
“We are entering a very exciting phase of our company’s growth,” said Frank Palantoni, CEO of Laboratoire M2, the makers of THYMOX™. “We’re extremely pleased to welcome our new investors to this round, and also to see our current investors, Desjardins Innovatech and Cycle Capital Management, participate. We now have the resources to globally commercialize our greentech disinfecting technology platform.”
“Bringing a new biological solution with such broad applications into new markets is a significant challenge. We’re proud to partner with a great entrepreneurial team to meet the challenge and pursue commercial growth,” added Andrée-Lise Méthot, Founder and Managing Partner at Cycle Capital Management.
“We are enthusiastic about partnering with the management team and the shareholders of Laboratoire M2 to support their next phase of growth and development. They have a strong business plan, their product, Thymox, is innovative, and they are evolving in a fast growing market close to Desjardin’s values,” said Jacques Perreault, Vice President of Desjardins Innovatech.
“We remain on track in developing THYMOX sales momentum in our Animal Health business, and we are launching new products for our surface disinfecting markets,” added Palantoni. “and of course, our robust pipeline of innovation includes products to meet the ever increasing demand for botanically derived crop protection products. With our accelerating commercial momentum, we expect to continue to attract partnership interest from major strategic players in the Animal Health sector.”
photo credit: JerzyGorecki via pixabay