SAN DIEGO, May 29, 2019 /PRNewswire/ -- Cellibre Inc., a leading cellular agriculture company that employs an organism-agnostic approach to turn cells into specialized, sustainable factories for the manufacture of globally significant products at scale, today announced the close of an oversubscribed financing round. Key investors in this round include Cresco Capital Partners II, LLC, Flatiron Venture Partners and Delta Emerald Ventures.
Biology is the world's most sophisticated and impactful manufacturing technology. Every cell is a manufacturing system equipped with enzymatic machinery instructed by a cell's DNA code to turn nutrients into products. Nature's machinery can precisely conduct complex reactions that are difficult and, in some cases, impossible to achieve by any other means. By harnessing this innate power of the natural world, Cellibre is enabling a revolution in sustainable manufacturing.
Cellibre's initial strategic focus will be deploying its expertise to revolutionize the way cannabinoid-based medicines are sourced, produced and consumed. The significant deficiencies throughout the current cannabinoid supply chain, the resource requirements in the agricultural process and the evolving regulatory environment globally provide Cellibre an immense opportunity to disrupt a $100+ billion market via the production of high-quality, sustainable, pure, medical-grade cannabinoids. Cannabinoids represent one of the few industries in the last 50 years to reach $5 billion in sales in the United States and then is expected to post a 20%+ compound annual growth rate for the following five years.
"We could not be more excited to bring the next industrial revolution, bio-based manufacturing, to this emerging market," said Ben Chiarelli, founder and chief executive officer of Cellibre. "The opportunities for cannabinoid-based products, from medicines to cosmetics to animal health and beyond, are well known and vast. At Cellibre, our team is deconstructing the plant into its individual components, enabling our innovation partners to scale and commercialize an almost limitless number of products sustainably and consistently."
Cellibre's lead investors Cresco Capital Partners, Flatiron Venture Partners and Delta Emerald Ventures bring unique perspectives and business expertise to the Cellibre team. This group has an expansive network of relationships in the cannabis sector as well as deep industry expertise across the supply chain.
"Cellibre's vision to unlock the inherent healing power of the cannabis plant and, in partnership with world-class organizations, research, develop and commercialize cannabinoid-based products aligns perfectly with our mission to play a leading role in bringing this industry out of prohibition to improve human health," said Matt Hawkins, Founder and Managing Partner of Cresco Capital Partners. "In this sector, like any other, we invest in people first. The Cellibre team is one of the few scientific groups that has taken bio-based manufacturing from ideation to commercial and has done so by employing very novel and protectable approaches."
Products derived from cellular agriculture have several significant advantages over legacy manufacturing processes including sustainability, consistency, purity, improved economics and scalability. Cannabis is a unique consumer product because, while delivering a product with a consistent flavor and aroma is important, a consistent experience with these products is equally if not more critical. Cellibre's novel technology will allow brands to deliver on the promise of a consistent experience, regardless of geography or scale.
About Cellibre Cellibre is a cellular agriculture company that employs an organism-agnostic approach to turn cells into specialized, sustainable factories for the manufacture of globally significant products at scale. Our world-class scientific team has led programs from napkin to commercial, pioneering revolutionary breakthroughs in energy, ingredients, medicines and more. Cellibre's initial strategic focus will be deploying our expertise to enable the production of pharmaceutical-grade cannabinoids, alleviating the need for agriculture entirely and revolutionizing the way cannabinoid-based medicines are sourced, produced and consumed.
Cellibre was founded in 2017 and headquartered in San Diego, California.