Oxford Biotrans, a life sciences firm commercialising biocatalytic processes for the production of speciality chemicals, has secured £2.5m ($3.9m) in its series A.
The round into the Oxford spinout was led by Imperial Innovations, the tech transfer unit of Imperial College London. Other backers include IP Group, Oxford University, Oxford Innovations and Technology fund, and De Monchy Aromatics. Innovations itself now holds a 41% stake in Biotrans following a £600,000 seed investment made in 2013.
Biotrans will now use its series A to further develop its speciality chemical portfolio. The firm’s first product is a low-cost nootkatone, which emulates the flavour and scent of grapefruit. It can be used in soft drinks, confectionary, and perfumes. Currently a high-cost flavour product, the company hopes to scale towards commercial production by the end of the year while exploring other potentials.
Jason King, CEO of Oxford Biotrans, said: “With this new investment we shall establish purpose built facilities and build a high quality team, the first key members of which are already lined up to come on board. With these resources we shall deliver more novel processes more quickly and pursue a more aggressive and comprehensive monetisation of our technology’s full potential.”
