Imperial Innovations increases investments into Oxford uni spin-off
AIM-listed Imperial Innovations Group has invested another £0.65m into Oxford University spin-off company Oxford Biotrans.
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Oxford Biotrans used its enzyme technology to pioneer the commercialisation of biocatalytic processes for the production of high value specialty chemicals.
Imperial Innovations has now invested a total of £1.25m into the company, and held a 41% stake of the company.
In the latest round of funding Oxford Biotrans raised £1.25m, to establish purpose built facilities and develop its team.
The company’s first product was a low cost nootkatone, an ingredient used in soft drinks, confectionery and perfumes.
Oxford Biotrans' product said its product had already created strong market interest and will be available in commercial quantities in the coming months.
Imperial Innovations shares were up by 0.22% to 486.06p at 1412 BST.