£1m investment into Oxford Genetics following expansion of Board and opening of new facilities
Mercia Technologies PLC (AIM: MERC), which is focused on the creation, funding and scaling of innovative technology businesses with high growth potential from the UK regions, is pleased to announce a £1m investment into Oxford Genetics, a synthetic biology company with world-leading expertise in DNA design.
The capital follows an impressive year of growth for the company, which has expanded its Board and relocated to new, state-of-the-art facilities in Oxford Science Park.
Oxford Genetics first received investment from Mercia in July 2015, after being identified as the next ‘emerging star’ from Mercia’s third party funds. Mercia Technologies now holds a 46% share in the company and this latest round will enable the company to continue licensing its technologies within the rapidly expanding markets of Cell and Gene Therapy.
Oxford Genetics has recently appointed three new Board directors to strengthen its position as a market leader in DNA design, protein expression, and virus & cell line engineering.
These appointments now expand the Board to six PhD level experts in commercial biotech and will help Oxford Genetics to commercialise its innovations following a period of intense biomedical research and development.
Joining the Oxford Genetics Board are:
Dr Matt Baker as Non-Executive Director. Matt was formerly the founder of Antitope. Antitope now forms part of Abzena plc, a Mercia portfolio company that listed on AIM on 10 July 2014.
Dr Paul Brooks as Commercial Director. Paul previously worked at Sigma-Aldrich, holding several senior positions including Head of Discovery Research Services.
Dr David Hames as Non-Executive Chairman. David is also the founder of a Mercia portfolio company, Science Warehouse, a cloud-based procurement platform.
The company has also relocated to new facilities in Oxford Science Park. These start-of-the art facilities include dedicated cell development suites and new technology capable of automating certain processes, allowing the company to scale its services in line with increasing demand from new and existing customers.
Ryan Cawood, CEO of Oxford Genetics, said...
“We are pleased to receive this investment from Mercia, which follows a period of sustained and exciting growth for Oxford Genetics. The company has grown significantly in the last year, and is now looking to reinforce its position as the world leader in DNA design, protein expression, and virus & cell line engineering.
“With Mercia’s capital and support, as well as the backing of an experienced Board and new facilities, we are confident that we can continue to scale the business into a global provider of synthetic biology solutions.”