Octarine Bio IVS, a Copenhagen, Denmark-based synthetic biology company, raised an undisclosed amount of funding.
Backers included Oskare Capital and Canopy Growth Cooperation former CEO and founder Bruce Linton.
The company intends to use the funds to strengthen its existing intellectual property and to demonstrate the commercial scalability of its fermentation-based production platform.
Led by Nethaji Gallage, CEO, Octarine develops a biosynthetic platform for cannabinoid and psilocybin derivatives using microbial fermentation. The company is currently raising a seed round expected to close in early 2020.