Synthace, a London, UK-based applied synthetic biology company developing high value chemical and biological products, closed a £1.3m funding round.
The round was led by Sofinnova Partners’ Green Seed Fund, with participation from a syndicate of angel investors.
The company intends to use the funds to demonstrate production of its first chemical products at scale, prior to forming partnerships within the chemicals industry to take them to market.
A spin out of University College London and led by Tim Fell, CEO, Synthace applies its technologies to engineer and optimize novel biological systems for the production of specialty chemicals and biological products.
The platform is initially focused on applications in the production of specialty chemicals. It is also applicable across multiple industry sectors, including healthcare, energy and agriculture.
The company also received a £500k Technology Strategy Board award entitled “Rapid Engineering of Cellular Factories”, in collaboration with University College London and University of Manchester.
FinSMEs
24/09/2013