DMC, a Boulder, CO-based early-stage biotech company, secured a Series A funding of undisclosed amount.
The round was led by Sofinnova Partners, with participation from current investors Capricorn Venture Partners and Breakthrough Energy Ventures. In conjunction with the funding, DCM added Josko Bobanovic, Partner and Manager of the Sofinnova Industrial Biotech Fund, to the Board of Directors.
The company intends to use the funds to recruit additional top talent in senior management, metabolic engineering, and fermentation for locations in Boulder, CO and Durham NC as it advances its first products to commercial scale.
Led by Matt Lipscomb, Ph.D., CEO and Co-Founder, DMC is an early-stage biotech company deploying its technology to reduce biological complexity and enhance the speed of development, creating a fermentation-based manufacturing platform that has the capability to produce a broad diversity of products. The platform enables low cost distributed manufacturing of existing products and new products that are only accessible using the precision of biology.
Its lead product family will provide ingredients for the animal and human nutrition markets.
This funding builds on the company’s non-dilutive awards to date which exceeds $1.8M from the National Science Foundation, the US Department of Energy, and the US Department of Agriculture.