DMC Biotechnologies Secures $10.3M Series A Funding to Advance Its Efficient Bio-Based Synthesis Platform

On July 12, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology company DMC Biotechnologies (DMC) announced the completion of a $10.3 million Series A financing round. The round was led by Sofinnova Partners, with participation from Capricorn Venture Partners and Breakthrough Energy Ventures (BEV). The company also announced that Josko Bobanovic, Partner and Manager of Sofinnova’s Industrial Biotechnology Fund, would join DMC’s Board of Directors.

DMC will use the proceeds from this round of financing to recruit senior executives and top talent in metabolic engineering and fermentation in Colorado, North Carolina, and other regions in the United States, and to expand the production and sales scale of its initial products.

It is reported that DMC completed a $1.75 million financing round led by Capricorn Venture Partners on January 10, 2018.

DMC is an early-stage U.S. biotechnology company primarily focused on bioinformatics and genetic engineering to address complex chronic issues in biological metabolic processes. The company also leverages microbial fermentation technology to develop bioproducts, including flavors, fragrances, nutraceuticals, and natural medicines. DMC’s vision is to develop bio-based processes that promote sustainable human development.

Biobased Products, derived from lignocellulosic agricultural and forestry waste such as crop straw (excluding food crops), are environmentally friendly chemical products. These products can help reduce dependence on foreign oil, enhance nutritional value in food, and improve the production efficiency of existing products. Leveraging biobased products to address energy challenges has become a cutting-edge technology in the global scientific and technological landscape.

DMC is leading the transition of multiple products toward low-cost, sustainable solutions. The company’s dynamic metabolic control technology can be used to cultivate robust microbial hosts, reduce biological complexity, and accelerate product development. By integrating this technology with fermentation techniques, DMC has established a low-cost manufacturing platform for the production of diverse products. DMC’s low-cost platform simplifies metabolic engineering efforts, enables a broader range of biological metabolic processes, and supports the sustainable development of both existing and new products.

Dr. Matt Lipscomb, CEO and Co-Founder of DMC, stated, “We are delighted that Sofinnova has recognized our mature technology. We look forward to leveraging this collaboration to bring our portfolio of specialty amino acids to market and continue building a robust product pipeline.”

Carmichael Roberts, a partner at Breakthrough Energy Ventures, stated, “DMC’s synthetic biology platform is transforming traditional production models, significantly shortening time-to-market and reducing production costs. DMC’s technologies hold great promise in the fuel and food industries, and we are delighted to grow alongside them.”

Sofinnova Partners, established in 1972 and headquartered in Paris, France, is an independent venture capital firm focused on life sciences. The company is dedicated to investing in startups within the biopharmaceutical sector, primarily targeting projects with strong intellectual property or specialized pharmaceutical expertise. Leveraging years of practice and experience, Sofinnova Partners has cultivated numerous market leaders.

Capricorn Venture Partners, established in 1993 and headquartered in Leuven, Belgium, is an independent pan-European venture capital firm. The company primarily invests in innovative European technology companies in the fields of sustainable chemistry, health tech, digital technologies, and artificial intelligence. With deep technological expertise and extensive industry experience, Capricorn Venture Partners is committed to supporting leading entrepreneurs developing advanced technologies and creating value for its clients.

BEV was established in 2015 and is headquartered in Paris, France. It is a venture capital firm founded by the Breakthrough Energy Coalition. Guided by scientific and technical expertise, BEV is committed to investing in clean energy technologies across the sectors of living, food, travel, and construction to accelerate their commercialization.

(Compiled by Xu Xiaoxue)