Green Biologics Ltd, an Oxford, UK-based industrial biotechnology company, raised £15.4m in Series B funding.
The round was led by Sofinnova Partners with participation from Swire Pacific Limited, Capricorn Venture Partners, Oxford Capital Partners, Morningside Ventures and ConvergInce Holdings.
Led by Sean Sutcliffe, CEO, Green Biologics is a technology developer and emerging bio-based C4 chemicals producer, focused on renewable n-butanol, a chemical used in paints, coatings, adhesives, inks, plastics, pharmaceuticals, food ingredients, household cleaners and personal care products.
The company is also to purchase the assets of Central MN Ethanol Co-op with the aim to retrofit the plant to produce renewable n-butanol and acetone for production in 2016. To this end, an asset purchase agreement has been executed and has been approved by CMEC shareholders on November 27th, 2013.
Green Biologics has offices and laboratories in Milton Park in Abingdon, Oxfordshire, UK, and Gahanna, Ohio where it also maintains laboratories and pilot facilities.