DMC Biotechnologies announces first close of US$10.3M Series A financing led by Sofinnova Partners
Boulder, CO, USA: 9 July 2019 – DMC, an early-stage biotechnology company, announced today that is has raised a Series A equity financing led by Sofinnova Partners. The company also announced the addition to its Board of Directors of Josko Bobanovic, Partner and Manager of the Sofinnova Industrial Biotech Fund. Current investors Capricorn Venture Partners and Breakthrough Energy Ventures also participated in the fundraise. This funding builds on the company’s successful non-dilutive awards to date which exceed $1.8 million from the National Science Foundation, the US Department of Energy, and the US Department of Agriculture.
DMC makes bio-based products using enhanced microbial fermentation. The development of microbes and associated bioprocesses has historically been complicated, slow, and costly. DMC is deploying its technology to reduce biological complexity and enhance the speed of development, creating a low cost, fermentation-based manufacturing platform that has the capability to produce a broad diversity of products. The company’s platform enables low cost distributed manufacturing of existing products and new-to-the world products that are only accessible using the precision of biology.
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