BioSilta Completes EUR 2.5 Million ($3.4 Million) Funding Round
6/11/2014 10:24:07 AM
Cambridge, UK, 11th June 2014: BioSilta Ltd, a developer of advanced microbial growth systems, today announced that it has received EUR 2.5 million from Omega Funds (London) and existing investor Inveni Capital (Helsinki). The funding will be used to support commercial expansion through direct sales and marketing teams in Europe and the USA, and the establishment of distribution networks in other regions to increase sales of the Company’s EnPresso® product line. The investment will also be used to accelerate the introduction of new products in BioSilta’s pipeline.
The Company’s products are based on its proprietary EnBase® technology which offers a novel approach to control the feeding, and thereby growth rate, of microbial cultures. The lead, EnPresso B, product range, offers a series of reagent-based growth systems for bacterial cultures which, when compared to results using conventional growth media, have been shown to increase protein yields up to 100-fold and improve protein functionality. Products in the range include EnPresso B, EnPresso B Animal-free (certified free from animal-derived components), and EnPresso B Defined Nitrogen-free, used to significantly increase the yield of 15N-labeled proteins for NMR analysis. For ease of use the products are supplied as pre-sterilized tablets, which are simply added to sterile, filtered water.
Commenting on the investment, Renée Aguiar-Lucander, Partner at Omega Fund Management, said: “The market opportunity for products that improve protein yields and functionality is significant, and we are excited about backing an experienced team in this area able to fully leverage this new technology. BioSilta has made significant progress in the last 12 months and we look forward to supporting the management team through this next stage of the Company’s growth.”
Markku Fagerlund, Partner at Inveni Capital, continued: “We’re delighted to have Omega Funds join us in investing in BioSilta and thereby enabling the Company to bring its products to a much wider market”.
Bob Penney, CEO at BioSilta, said: “Our current products significantly increase productivity, enabling scientists to spend less time optimizing protein expression systems and more time focused on their true research or development objectives. The funds will be used to drive market expansion with our current products and accelerate the introduction of new products in our pipeline. We would like to thank our investors for supporting the Company at this exciting stage of its development.”
For more information please contact:
Bob Penney, BioSilta Ltd
+44 (0) 7711657700
Lorna Cuddon, Zyme Communications
+44 (0) 7811996942
About BioSilta (www.biosilta.com)
BioSilta, founded in 2007 in Oulu, Finland, utilizes its unique, proprietary EnBase® technology platform to develop innovative, reagent-based EnPresso® growth systems. When compared to conventional growth media, these growth systems significantly increase the yield of high quality biomolecules from microbial cultures. BioSilta is funded by Inveni Capital, Omega Funds and Oulun Seudun Hyvinvointirahasto.
About Omega Funds (www.omegafunds.net)
Omega Funds is a leading international Life Sciences-focused investment firm operating from London and Boston offices, focused mainly on late stage investment opportunities across both private and public companies. Omega is also able to provide partial or complete liquidity solutions for venture and growth funds, as well as founders, corporations and other entities.
About Inveni Capital (www.invenicapital.com)
Inveni Capital - established in 2007 - is a life science focused venture capital firm offering entrepreneurial venture capital to life science companies in Northern and Central Europe. Inveni invests in early to growth stage pharmaceutical development and medical technology companies. In addition to its own fund Inveni also manages five life science dedicated venture capital funds.
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