Press release: DMC Biotech Total Series A Fundraising Closes With $11.3 Million
- Monday, 16 December 2019
Boulder, CO, USA, December 16, 2019 – DMC Biotechnologies has completed additional closings as part of the Company’s Series A funding round which was led by Sofinnova Partners. Boulder Ventures VII L.P. (BV) and SCG have now joined the Series A round bringing the total close to $11.3 million. Current investors Capricorn Partners and Breakthrough Energy Ventures also participated in the round.
Matt Lipscomb, Ph.D., CEO & Co-Founder of DMC said, “We are excited to announce that BV and SCG have joined our Series A syndicate. These additions strengthen our presence in Colorado and open opportunities for us in new markets abroad, respectively.”
DMC is preparing for the first commercial launch of its specialty amino acid product family in 2020 and is building a portfolio of biobased chemicals for commercialization.
Kyle Lefkoff, Founder and General Partner of Boulder Ventures said, “As a long-term investor in Colorado-based chemistry businesses, we are pleased to invest in DMC at this exciting time in the company’s development.”
“SCG is excited to join the syndicate supporting DMC. We envision that DMC’s breakthrough technology can help to foster the future of the bio-to-chemicals pathways to build a more sustainable world,” said Tim McCaffery, Global Business Director, New Materials and Technology, SCG.