BioSilta expands in Europe and US after raising $3.4m
BioSilta Ltd, a Finnish developer of advanced microbial growth systems now headquartered in Cambridge UK, plans to expand its commercial activities in Europe and the US after raising €2.5 million ($3.4m).
The investment has come from Omega Funds (London) and existing investor Inveni Capital (Helsinki).
It will support commercial expansion through direct sales and marketing teams in Europe and the US and help establish distribution networks in other regions to increase sales of the company’s EnPresso® product line. The investment will also be used to accelerate the introduction of new products in BioSilta’s pipeline.
The products are based on its proprietary EnBase® technology which offers a novel approach to control the feeding, and thereby growth rate, of microbial cultures.
The lead, EnPresso B, product range, offers a series of reagent-based growth systems for bacterial cultures which, when compared to results using conventional growth media, have been shown to increase protein yields up to 100-fold and improve protein functionality.
Products in the range include EnPresso B, EnPresso B Animal-free (certified free from animal-derived components), and EnPresso B Defined Nitrogen-free, used to significantly increase the yield of 15N-labeled proteins for NMR analysis. For ease of use the products are supplied as pre-sterilized tablets, which are simply added to sterile, filtered water.
Renée Aguiar-Lucander, partner at Omega Fund Management, said: “The market opportunity for products that improve protein yields and functionality is significant, and we are excited about backing an experienced team in this area able to fully leverage this new technology.
“BioSilta has made significant progress in the last 12 months and we look forward to supporting the management team through this next stage of the Company’s growth.”
Bob Penney, CEO at BioSilta, said: “Our current products significantly increase productivity, enabling scientists to spend less time optimizing protein expression systems and more time focused on their true research or development objectives.
“The funds will be used to drive market expansion with our current products and accelerate the introduction of new products in our pipeline. We would like to thank our investors for supporting the company at this exciting stage of its development.”