Chinova Bioworks Accelerated in Ireland Biotech Hub, Receives InvestmentPress release: May 9th, 2016 Jenny Keleher May 10, 2016
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May 9, 2016
Canadian company accelerated in Ireland biotech hub, receives investment
Chinova Bioworks is pleased to announce that the company has been accepted into the prestigious IndieBio accelerator hosted by the US venture capital firm SOSV. As a part of the agreement SOSV is investing USD $100,000 in Chinova Bioworks. The intense 3 month program will take the young company from comprehensive lab screening into full beta-¬‐product development, and get samples into the hands of early adopters in the beverage industry. During the program Chinova will have access to world-class business mentors and scientists who specialize in biotechnology and end with a demo‐day pitch to potential investors and corporations. The program takes place in the European biotechnology hub of Cork, Ireland at the University College Cork.
“IndieBio is an incredible opportunity to develop our technology rapidly and effectively. We hope by the end of this program to get our first product into the hands of beverage companies who see the value of our technology to extend the natural shelf-life of premium juices.” – Natasha Dhayagude, CEO.
Chinova Bioworks is a Canadian biotechnology company developing a safe and effective anti-microbial agent from fungal-sourced chitosan biopolymer. The platform technology is applicable to many different industries, such as food and beverages, cosmetics and medical devices. The company is led by CEO Natasha Dhayagude (Canada), CTO Emanuel Dinis (Portugal), and COO David Brown (Canada). The core technology comes from Mycodev Group, the majority shareholder of Chinova Bioworks.