Novonesis and TurtleTree enter partnership to support commercialization of lactoferrin

COPENHAGEN, Denmark, July 16, 2026 /PRNewswire/ -- Novonesis, a global leader in biosolutions, today announced an agreement with TurtleTree, an innovator in precision fermented ingredients, and the first company to receive a US GRAS "No Objection Letter" for its precision fermented lactoferrin LF+®. Simultaneously, Novonesis is making a minor investment into TurtleTree. 321Catalyst Ventures, the CVC-arm of Mitsui Chemicals, Inc. (HQ: Tokyo) joins the investment.

Under the agreement, Novonesis will exclusively undertake efforts to scale, manufacture and commercialize LF+® for the early life nutrition market and will additionally have selected commercial rights for dietary supplements. The agreement with TurtleTree complements Novonesis' pioneering efforts in precision fermentation and fits well into the existing Human Health Biosolutions portfolio of Human Milk Oligosaccharides (HMOs), probiotics and synbiotics.

Expanding access to lactoferrin for global customers

Lactoferrin is a protein naturally found in milk and is recognized for its benefits across immunity, iron regulation, and gut health, particularly for women and infants. Traditional production requires large volumes of milk, leading to high costs, supply constraints, and environmental inefficiencies, preventing broad access to the health benefits that Lactoferrin provides. Through the collaboration, Novonesis and TurtleTree aim to secure ample, high-purity and cost-effective production of TurtleTree's LF+® to the benefit of global customers.

Thomas Batchelor, Senior Vice President for Early Life and Specialized Nutrition at Novonesis, said:

"Our aim is to make lactoferrin more accessible and cost-competitive and showcase what is achievable with precision fermentation in early life nutrition and dietary supplements. If successfully scaled, this will enable customers to deliver proven health benefits to consumers more efficiently. LF+®fits well in our broader portfolio of both precision fermentation projects and our specialized nutrition ingredients,"

Fengru Lin, Founder and CEO of TurtleTree, added,

"This partnership is about doing the hard work required to make the unique benefits of lactoferrin truly usable at scale. Not just technically, but economically available for all. By pairing TurtleTree's precision fermentation platform with Novonesis' manufacturing and commercialization capabilities, we're unlocking the consistency, cost structure, and supply reliability that modern health brands need. Ultimately, this enables our customers to formulate with confidence and deliver meaningful benefits to the people who rely on these products every day."

About TurtleTree

TurtleTree is a precision fermentation company transforming access to essential dairy proteins that are difficult to produce at scale using traditional animal-based methods. Starting with lactoferrin, TurtleTree has developed a technology that delivers consistent quality, reliable supply, and improved economics independent of milk production, and is the first company globally to receive US FDA GRAS status for precision-fermented lactoferrin. TurtleTree partners with leading food, nutrition, and biosolutions companies to expand access to high-value ingredients for early life, women's health, and specialized nutrition applications.

About Novonesis

Novonesis is leading the era of biosolutions.
By leveraging the power of microbiology with science, we transform the way the world produces, consumes and lives. In more than 30 industries around the world, our biosolutions are already creating value for thousands of customers and benefiting the planet.
Our foundation is built on the combined 100+ years of legacies of Novozymes and Chr. Hansen — two Danish-based pioneers in microbial science, fermentation, and enzyme innovation who joined forces in 2024 under the name 'Novonesis', which means new beginning.
Our 11,000 people worldwide work closely with our partners and customers to transform business with biology.

This is an edited version of the press release issued by Novonesis on 8th July, 2026 (in local Denmark). Please refer to the original English version. English title: Novonesis and TurtleTree enter partnership to support commercialization of lactoferrin

This is an edited version of the press release issued by Novonesis on 8th July, 2026 (in local Denmark). Please refer to the original English version.
English title: Novonesis and TurtleTree enter partnership to support commercialization of lactoferrin

 

** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **

Novonesis and TurtleTree enter partnership to support commercialization of lactoferrin

HONG KONG, July 16, 2026 /PRNewswire/ -- SingWealth Holdings today announced the official launch of its Hong Kong-based asset management arm, PFP Capital Limited ("PFP Capital"), marking a significant milestone in the Group's regional footprint and advancing its long-term multi-market business strategy.

Providing research-driven investment solutions through disciplined portfolio management and prudent risk oversight, PFP Capital has established its inaugural private fund, intended solely for Professional Investors. The fund adopts a global thematic strategy across Greater China, the United States, Japan, and Korea, seeking to identify high‑quality businesses aligned with long‑term technology trends, including artificial intelligence and other innovation‑driven themes.

"The establishment of PFP Capital represents an important milestone in SingWealth's continued regional expansion and reflects our commitment to broadening the investment solutions within the Group," said Jeffrey Chow, Executive Director and Group CEO of SingWealth Holdings. "As global markets continue to evolve, we see increasing demand for professionally managed strategies that help investors navigate emerging opportunities with discipline; Hong Kong remains a strategic base for our asset management arm."

Leading the investment strategy is Wendy Zhang, Fund Manager of PFP Capital, with more than 25 years of investment experience across public markets and private equity. Throughout her career, she has managed investment strategies across global markets, with extensive experience investing in technology and innovation‑driven businesses.

Drawing on this experience, she said, "We are witnessing significant shifts across industries and markets driven by technological innovation, changing consumer behaviour, and evolving economic trends. Our focus is on identifying opportunities through a disciplined and research‑driven investment approach, while building a strong foundation for PFP Capital's long‑term development."

The establishment of PFP Capital Limited strengthens SingWealth Holdings' regional presence and further expands the Group's asset management pillar as part of its long-term growth strategy.

About PFP Capital Limited

PFP Capital is a Hong Kong–based asset management firm licensed by the Hong Kong Securities and Futures Commission (SFC). The firm manages an OFC and discretionary mandates for eligible investors under Hong Kong regulations, as well as in other jurisdictions where the fund is duly recognised.

With a disciplined, research‑driven approach, PFP Capital develops investment solutions that identify opportunities across global equity markets while maintaining a strong emphasis on risk management. Anchored in professionalism and client‑centric values, the firm supports investors in navigating dynamic market conditions with clarity.

For more information on SingWealth Holdings, visit https://singwealthholdings.com. 

Disclaimer

This press release is provided for general information purposes only and does not constitute an offer, solicitation, invitation, or recommendation to subscribe for any securities or investment products. The private fund referenced herein is intended solely for Professional Investors as defined under the Securities and Futures Ordinance (Cap. 571) of Hong Kong and is not available to the public.

Investment involves risks, including the possible loss of principal. Past performance is not indicative of future results. Any forward‑looking statements or views expressed are based on current assumptions and are subject to change without notice.

This material has not been reviewed by the Hong Kong Securities and Futures Commission (SFC).

** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **

SingWealth Holdings Expands Regional Presence with PFP Capital Limited Launch in Hong Kong