4th Aug 2015 07:52
LONDON (Alliance News) - Imperial Innovations Group PLC on Tuesday said it has led a GBP2.5 million funding round for Oxford Biotrans, a University of Oxford spin-out company.
The intellectual property investment company said it now holds a 41% stake in the company, which is seeking to commercialise biocatalytic processes for the production of high value specialty chemicals, based on its patented enzyme technology. Its first product is a low-cost, natural-grade nootkatone, the flavour and scent of grapefruit.
"Oxford Biotrans has the potential to become a significant player in the high-growth, Industrial Biotechnology industry, so we are delighted to lead this round. The proceeds will help the Company to deliver commercial quantities of its first product, as well as build a pipeline of new ones," said Robert Bahns, director of technology ventures at Imperial Innovations.
Shares in Imperial Innovations were up 1.9% to 494.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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