Asahi Kasei-backed biomaterials producer Mirexus will use the funding, supplied by investors including Goddard Enterprises subsidiary GEL Tech, to support a new production facility.
GEL Tech, a subsidiary of diversified conglomerate Goddard Enterprises, has led $12m in convertible note financing for Canada-based biomaterials producer Mirexus Biotechnologies.
GEL was joined in the investment syndicate by backers including members of angel investor network GreenSky President’s Club.
Founded as a spinout of Guelph University, Mirexus has developed a corn-based, non-toxic substance called PhytoSpherix that is used in cosmetics and moisturisers.
The capital will support construction of a dedicated factory in Ontario, Canada, to produce PhytoSpherix, and will…
