Belgian biotechnology company, Paleo, has announced a refocusing of its operations to prioritize research and development (R&D). The decision comes as the company navigates a difficult market environment characterized by slower regulatory approval processes and reduced investor appetite for high-risk biotech ventures.
Confidence in the technology’s potential
Despite these challenges, Paleo remains confident in the long-term potential of its technology to create animal-free proteins that replicate the flavor and experience of meat. “Our technology works—every partner and taster who experiences our ingredient recognizes its transformative potential. However, the current market and funding environment require us to prioritize maintaining our core R&D,” said Hermes Sanctorum, CEO of Paleo.
As part of the operational shift, the company has confirmed plans to reduce its workforce at its R&D Center in Leuven, Belgium, which it opened last year. This restructuring is expected to help streamline the company’s efforts and better align resources with its long-term goals in the protein sector.
Tough decisions for a stronger future
Paleo has focused on developing animal-free heme proteins, a key component in plant-based meat and fish products. The company’s technology enables plant-based alternatives that replicate the myoglobin found in animal meat, enhancing the flavor and authenticity of the products.
The company’s recent activities include a partnership with Revo Foods to develop animal-free salmon heme. This collaboration, supported by €2.2 million from the European Union’s Eurostars program, aimed to create a 3D-printed salmon fillet using Paleo’s technology.
Sanctorum expressed confidence that this move, while difficult, is necessary for ensuring the sustainability of Paleo’s innovation. “This is a challenging but necessary step to ensure Paleo’s innovation endures and continues to make an impact,” he said.
