DMC Biotechnologies announces first close of $1.75M equity financing led by Capricorn Venture Partners
Boulder CO, USA and Leuven, Belgium: 9 January 2018 - DMC (www.dmcbio.com), an early-stage biotechnology company, announced today that is has raised a first equity financing led by Capricorn Venture Partners. The company also announced the addition to its Board of Directors of Rob van der Meij, Investment Manager of the Capricorn Sustainable Chemistry Fund. This funding builds on the company's successful non-dilutive awards to date which exceed US$ 1.2 million from the National Science Foundation, the US Department of Energy, and the US Department of Agriculture.
DMC makes bio-based products using enhanced microbial fermentation. Modification of the programming language for microbes to enhance productivity has historically been complicated, slow, and costly. DMC has developed technology to reduce biological complexity and enhance the speed of development, creating a low cost, fermentation-based manufacturing platform that has the capability to produce a broad diversity of products. Increased deployment of bio-based products can improve the nutrition of the foods, provide distributed manufacturing of existing products, enable new-to-the world materials that are only accessible using the precision of biology, and reduce dependence on fossil fuels. DMC is building a capital-efficient, multi-product company using patent-pending technology that overcomes key barriers that have historically impeded efforts in this sector.
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