European synthetic biology company Octarine receives funding to develop biosynthetic platform for cannabinoid and psilocybin
COPENHAGEN, Denmark -- January 10, 2020
Today, Octarine Bio IVS (“Octarine” or the “Company”), a synthetic biology
company developing functionally superior cannabinoid and psilocybin
derivatives using microbial fermentation announce a successful fundraising
from private investors including Oskare Capital and Canopy Growth Cooperation
(“Canopy Growth”) former CEO and founder Bruce Linton. Canopy Growth was the
first cannabis producing company in North America to be listed on a major
stock exchange (TSX), included on a major stock index (S&P/TSX Composite
Index) and to list on the New York Stock Exchange.
“We’re thrilled to have the backing of a pioneer in the cannabis industry”
says Nethaji Gallage, CEO of Octarine. “Bruce’s expertise, network, and
knowledge will be a valuable asset to us, and we look forward to accelerating
our technology with his and our other private investors’ support”.
“Octarine is a promising young company with a platform technology that can
accelerate several rapidly evolving sectors, including work on synthesizing
rare and novel cannabinoids” says Bruce Linton. “I look forward to supporting
the Company and seeing their technology utilized in the market”.
The new funds will be used to strengthen the Company’s existing intellectual
property and to demonstrate the commercial scalability of its
fermentation-based production platform. Octarine is currently raising a seed
round expected to close in early 2020.
About Octarine
Octarine’s mission is harnessing synthetic biology to develop rare and
functionally superior cannabinoids and psilocybin derivatives targeting the
pharmaceutical industry to improve the health and well-being of people
worldwide. Octarine has developed in-cell enzymatic platforms expanding the
chemical diversity of cannabinoids and psychedelic tryptamine derivatives
facilitating the production of superior molecules with improved
pharmacokinetic properties.
About Bruce Linton
Mr. Linton is the founder and former CEO of Canopy Growth and co-founder of
Tweed Marijuana Incorporated. Under Mr. Linton's leadership, Canopy Growth was
the first cannabis producing company in North America to be listed on a major
stock exchange. Mr. Linton held positions that include General Manager and
Re-Founder of Computerland.ca, President and Co-Founder of webHancer Corp.,
and part of the establishing team at CrossKeys Systems Corporation
("CrossKeys"). He was also part of the leadership team for the NASDAQ/TSX
initial public offering at CrossKeys.
https://www.afp.com/de/nachrichten/1340 ... 1100053231
https://www.bloomberg.com/press-release ... psilocybin
