The Tufts spinout has not identified any of its investors in the round, which will go towards the launch of a feed additive to prevent avian livestock infections.
Akeso Biomedical, a US-based animal feed developer spun out of Tufts University, today closed a $4.4m funding round backed by undisclosed new and existing investors.
Tufts spun out Akeso in 2014 to commercialise silk technology for treating skin wounds. The business has since pivoted to manufacturing feed additives for livestock to prevent infections spilling into the food chain without using antibiotics.
Akeso’s additives contain the Fe3C compound, which works as an adhesive film positioned around the biological proteins responsible for dangerous bugs to stop them damaging the livestock’s gut flora.
The cash will go towards the launch of Akeso’s first feed additive, Typlex Chelate, a gut nutrient formulated to reduce the incidence of avian infections such as Salmonella, E. coli and Campylobacter.
The money will also be used to develop a second product aimed at piglets.
Akeso’s original silk licence was based on work by David Kaplan, director of the Bioengineering and Biotechnology Centre at Tufts University. It later acquired a licence for bacterial biofilms from University of Nottingham.
The business raised $1.12m in funding from undisclosed investors in 2015, according to market intelligence provider DataFox, while deals database PitchBook recorded a $500,000 investment from unspecified angels in 2014.
Simon Williams, CEO of Akeso Biomedical, said: “We are pleased with the continuing commitment from our existing investors and welcome the new investors in this latest round.
“We are eager to bring our Typlex Chelate to market with a strong commercial partner and begin to grow the product categories.”
