Phenotypeca raises £300,000 seed investment and strengthens its board
Phenotypeca has successfully raised £300,000 of seed investment from overseas and UK private investors to help grow the value of the business in 2021. Ten new private investors from the US, EU and UK, are now providing Phenotypeca with global insight and a wealth of experience in the biopharmaceutical and business sectors. Several key investors have also joined Phenotypeca’s Board of Directors, with others advising the business and sharing their professional network for business development activities over the next 12 months. The UK-based taxpayers also benefit from HMRC pre-approval of the investment for SEIS and EIS relief.
This investment strengthens Phenotypeca’s commercial offering as a yeast biofoundry business, using baker’s yeast (Saccharomyces cerevisiae) for a production strain optimisation service to enable the low-cost manufacture of therapeutic proteins, vaccines and diagnostics. The investment also increases the Intellectual Property (IP) value of the business by pump-priming patent filings and exemplification.
Commenting on this round of investment and the appointments to the board, Keith Williams, Phenotypeca’s founder and Managing Director, said, “We have demonstrated through 2020 the versatility of our industrial yeast platform technology; in vaccines, diagnostics and recombinant therapeutics. These projects have been primarily funded by grants, with data from them becoming available in Q2 and Q3 of 2021 for publishing. We are now in the process of engaging our first commercial customers for our PhenoStart™ and PhenoDev™ service offerings and hope to have the first contract by the end of Q2 this year.”