Precision fermentation specialist Perfect Day has completed its acquisition of Indian firm Sterling Biotech Limited (SBL), which will double its production capability and also get the go from the Food Safety and Standards Authority of India to market its animal-free dairy proteins in India.
SBL, which makes gelatin, dicalcium phosphate, and pharmaceutical ingredients including cholesterol-lowering drugs, has “precision fermentation capabilities with existing fermenters that will allow the company to expand its precision fermentation capabilities in the months ahead while continuing to service existing SBL customers in both the pharma and protein sectors.”
According to Perfect Day co-founder Ryan Pandya, “This strategic acquisition stands to vastly expand our ability to make and sell protein while leveraging our robust technology platform across new ingredient opportunities.” Perfect Day’s team in India will now be based in Gujarat, Karnataka, and Tamil Nadu, with potential for additional states in the future as the team grows in this important market.
Pandya had earlier said that Perfect Day would have the capacity to produce thousands of metric tons of its animal-free whey protein beta-lactoglobulin starting next year “through four commercial-scale facilities on three continents,” and that the SBL acquisition and its plans for building out owned manufacturing in the future would be “additive to those existing co-manufacturing facilities.”
He added that all of these increases to their manufacturing capacity will position us to be able to produce tens of thousands of metric tons of our protein over the next five years.
“Perfect Day has scaled its protein production by over 500% over the past year in order to meet the increasing demand for its kinder, greener products.
“In the near term, we are focused on delivering on SBL’s existing commitments and beginning the process of integrating our two teams.” In the long term, we plan to explore how we can leverage our R&D expertise to produce animal-free gelatin and collagen. “We see many avenues from this acquisition to extend our impact into new areas, in addition to the significant lactoglobulin capacity gains that will result from this acquisition.”
In India, they have an existing team with deep expertise in the local demand for kinder, greener products. Now that our regulatory approval is in place, we are using that expertise to build our tailored roadmap for domestic commercial opportunities.
“Globally, consumers love products made with our protein because it allows them to enjoy dairy without the lactose and cholesterol and with a reduced environmental impact, and we expect that products made with our protein will be Perfect Day positioning itself to “produce tens of thousands of metric tons of our protein over the next five years.” “Animal-free gelatin and collagen are enjoyed alongside traditional and plant-based products from sustainable producers.”