UK-based antimicrobial solutions company Bactobio has closed an oversubscribed £6 million bridge financing round.
The financing was led by Bridford Group, with the support of angel investors Peder Holk Nielsen (Former CEO and President of Novozymes) and Hugh Grant (Former Chairman and CEO of Monsanto).
New investors in the round included the founders of the London-based fintech unicorn Lendable and Entangle Group.
Bactobio CEO and co-founder, Dr Daniel Hansen, said:
“With our 2021 fundraise we built a complete end-to-end compound discovery pipeline.
“Today’s raise supports our continued drive towards automation and data-driven science that will help turn our captured biodiversity into commercial products.
“We are immensely proud to receive such a high level of new and continued support from high calibre investors.”
Bactobio offers a unique combination of synthetic biology, next-generation sequencing and machine learning, giving exclusive access to a growing library of thousands of previously unscreened microbes.
The announced funds will be used to advance Bactobio’s discovery pipeline and enable characterisation of the next generation of antimicrobial solutions.
Bactonio CSO, Dr Mark Wilkinson, said:
“It is estimated that fewer than 3 per cent of the potential natural products encoded in nature have been identified to-date.
“Bactobio’s bioactivity-driven but target-agnostic approach lets nature do the work and lead us towards compounds which have been unimaginable and previously inaccessible to drug discovery efforts.
“Funds from this round will allow us to dig deeper into this previously untapped bioresource.”