American start-up DMC Biotechnologies, which develops and produces chemicals and ingredients using precision fermentation, has agreed to create the ‘Biotech Open Platform’ in partnership with French industrial giants Danone and Michelin, and the investment bank Crédit Agricole. The first-phase investment is over €16 million.

Through its own venture capital fund of Solvay Ventures, Solvay has made an unspecified investment in US-based DMC (Dynamic Metabolic Control) Biotechnologies. The $34-million Series B funding round also included Cibus Enterprise, Capricorn Partners, Sofinnova Partners, Breakthrough Energy Ventures, SCG, Boulder Ventures and Michelin.