BOSTON, March 13, 2014 /PRNewswire/ -- EnEvolv, Inc., a genome engineering company creating novel sustainable genome-based solutions for the manufacture of health care, food, specialty chemicals and energy products, announced today completion of its Series A financing, which raised $1.7 million. The round was led by Cultivian Sandbox Venture Partners, LP, a Chicago-based venture capital firm with deep experience in the agricultural and industrial biotechnology sectors.
EnEvolv engineers and licenses microorganisms to produce chemicals, enzymes, and small molecules for pharmaceuticals, personal care, specialty chemicals, food, and energy industries. EnEvolv collaborates with major companies to engineer novel microorganisms and improve their existing strains to increase production yield and product quality.
The company's proprietary genome engineering platform is built on Multiplex Automated Genome Engineering (MAGE) technology, developed by the company's co-founders, Drs. George Church of Harvard Medical School and Farren Isaacs of Yale University. By treating the genome of living cells as the template for editing and evolution, EnEvolv offers substantial advantage in speed, cost, and cellular engineering capabilities.
"As a leader in a new generation of bioengineering companies, EnEvolv is already collaborating with major companies," said Ron Meeusen, Ph.D., Managing Director of Cultivian Sandbox Venture Partners. "EnEvolv will bring its novel and innovative biotechnology platform to bear on advancing novel, sustainable industrial and consumer products. We look forward to a highly productive and exciting collaboration."
EnEvolv also announced the appointment of two new members of the Company's Board of Directors -- Ron Meeusen, Ph.D., and Charles L. Cooney, Ph.D.
--Ron Meeusen, Ph.D.
Ron Meeusen, Ph.D. is a Managing Director of Cultivian Sandbox and co-founder and Managing Partner of Cultivian Ventures. Ron has over 30 years of experience in bringing new technologies and products to market. He has led research and development for major corporations in agricultural chemicals, field crop and vegetable genetics and breeding, animal health, novel foods and industrial materials. Ron has been a frequent speaker at conferences, a consultant to Federal policy on biotechnology regulatory issues, and active in industry trade groups. Prior to forming Cultivian Ron led the expansion of the biotechnology research and development program of Dow AgroSciences, and founded a successful biopharmaceutical company, Immuneworks, Inc. Ron represents Cultivian on the board of directors of Allylix, Proterro and Rivertop Renewables. He was also a member of the boards of directors of Divergence, Inc., which was sold to Monsanto Company in February of 2011, and of Aratana Therapeutics, which went public in 2013. Ron holds a Ph.D. from the University of California, Berkeley in plant cell biology, and a bachelor's degree from the University of Wisconsin, Milwaukee in plant physiology.
--Charles L. Cooney, Ph.D.
Dr. Cooney is the Robert T. Haslam (1911) Professor of Chemical and Biochemical Engineering in the Department of Chemical Engineering at MIT and is the Faculty Director of the Deshpande Center for Technological Innovation. He received his Bachelor's degree in Chemical Engineering from the University of Pennsylvania, and graduate degrees in Biochemical Engineering from MIT. He serves as a consultant to a number of biotech and pharmaceutical companies, is on multiple editorial boards of professional journals, sits on the Boards of Directors of Polypore International, Inc., Mitra (India), GreenLight Bioscience, Pronutria, Inc. and Biocon, Ltd (India) and was previously on the Boards of Genzyme, Cuno, Inc., LS9, Inc., Pall Corp. and Astra AB. Professor Cooney's research interests include manufacturing in the pharmaceutical, biotech and bioprocess industries.
"EnEvolv will utilize these new 'smart' funds to expand our research and development and, business development activities," said Marco Farsheed, cofounder and Chief Executive Officer. "Our business model, however, allows us to utilize revenues from our existing collaborations with multinational companies, to fund most of our operations."
About Cultivian Sandbox Ventures
Cultivian Sandbox is a venture capital firm focused on building next-generation disruptive agriculture and food technology companies capable of generating superior returns. As both experienced operating managers and venture investors we add value to portfolio companies both through our highly skilled team and extensive industry network. Our expertise in sourcing, evaluating, closing, managing and ultimately exiting successful equity investments positions us not only to build stronger businesses, but reshape industries. Additional information can be found at: http://cultiviansbx.com/.
About enEvolv, Inc.
EnEvolv, Inc., (Boston), The Genome Engineering Company, engineers and licenses microorganisms to produce chemicals enzymes and small molecules for a variety of industries including specialty chemicals, food, energy, personal care, and pharmaceuticals. The Company's proprietary platform is built on Multiplex Automated Genome Engineering (MAGE) technology, developed by EnEvolv's co-founders, George Church and Farren Isaacs at Harvard. By treating the genome as the unit of engineering, enEvolv offers substantial advantage in speed, cost, and cellular engineering capabilities. Additional information can be found at www.enevolv.com.
SOURCE EnEvolv, Inc.