All G, an Australian company producing milk proteins through precision fermentation, has secured a capital injection totalling A$10 million ($6.6 million) after completing a convertible note fundraise ahead of its Series B funding round.
As reported by The Australian Financial Review, All G received support from both new and existing investors, including Agronomics and Doehler Ventures. The funding will be used to accelerate All G’s commercial-scale manufacturing and the Q1 2026 launch of its bovine lactoferrin into China and the US.
All G has also just announced a strategic joint venture with Armor Protéines, a French supplier of milk and whey ingredients. Through the partnership, the companies will work to produce and commercialise both bovine lactoferrin and human milk proteins.
Significantly, Armor Protéines is owned by Savencia, a leading producer of bovine lactoferrin. The collaboration will combine All G’s precision fermentation capability with Armor Protéines’ manufacturing and commercialisation infrastructure.
Meeting the demand for sustainable lactoferrin
Lactoferrin is a key protein found in cow’s milk and human breast milk. It is sought after due to its antimicrobial, anti-inflammatory, and immune-boosting properties. Traditional lactoferrin extraction from cow’s milk is resource-intensive, unsustainable, and costly, creating a demand for alternatives.
Lactoferrin is used in functional foods, dietary supplements, pharmaceuticals, and skincare. According to AgFunderNews, All G’s human lactoferrin could prove valuable for use in infant formula, though the company does not yet have approval to sell in this market.
All G previously raised $25 million from Agronomics in 2022, and the company will reportedly launch its Series B funding round within the next 12 months. Last year, All G received regulatory approval to sell its animal-free lactoferrin in China, claiming to be the first company to achieve this milestone for a recombinant bovine lactoferrin protein.
“This approval is a great moment for All G as we lead the way in precision fermentation technology,” said CEO Jan Pacas at the time. “Lactoferrin is one of the most valuable and functional proteins in the world.”
