Cambridge UK, December 10th 2014 – Bactevo, the Industrial Biotechnology company, announced today that it has raised additional financing from New Wave Ventures LLP. The financing puts the company in an excellent position for ongoing and future commercial discussions. Bactevo is a Cambridge UK-based company utilising its proprietary molecular engineering technologies, known as TarGET, to enable the use of bacteria for the synthesis of chemicals from sustainable resources. With an experienced Biotech management team and exceptional scientific pedigree, the company’s objective is to provide safe, renewable and high-value Industrial Biotechnology alternatives to the creation of products without excessive energy requirements or polluting chemicals.
“We believe that our world-class science and proprietary technologies give Bactevo a leading position in the Industrial Biotechnology sector and this new funding allows us to strengthen the commercial side of the business allowing us to exploit the full potential of the company both with valuable internal projects and with clients,” said David Williams, co-founder and Executive Director of Bactevo.
Ian George of New Wave Ventures commented: “New Wave’s continued support for Bactevo is an endorsement of the company’s proven TarGET platform & ability to transform the timescales & economics of Industrial Biotechnology. Our investment allows Bactevo to rapidly accelerate expansion plans & supports the company’s move into commercial phase of development”.
Contact:
David Williams, PhD
Executive Director
Bactevo Ltd
Tel: +44(0)1223 423506
david.williams@bactevo.com
About TarGET
The TarGET (Targeted Genomic Evolution Technologies), platform exploits the huge continuing advances in next generation sequencing technologies combined with high-throughput functional genomic mutations, analysis and intelligent algorithms to give an unparalleled understanding of the internal process within a microbe necessary to survive and perform optimised specific functions in industrial environments. TarGET quickly produces bacteria perfectly optimised for a specific industrial process, maximum the use of feedstock and energy inputs to complete catalytic tasks efficiently, whilst boosting yields. This technology has the potential to transform the field of Industrial Biotechnology making the production of ‘clean’ chemicals a reality.