Mirexus, a biomaterials spinout of Guelph, will use the funding to support a new production facility.
GEL Tech, a subsidiary of diversified conglomerate Goddard Enterprises, has led $12m in convertible note financing for Mirexus Biotechnologies, a Canada-based biomaterials producer spun out of University of Guelph.
GEL was joined in the investment syndicate by backers including members of angel investor network GreenSky President’s Club.
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…
