UK based research company Exosect have announced the completion of a US$4m round of funding. The investment comes from its existing investor base and from ClearlySo, the social entrepreneur's funding network.
Martin Brown, managing director, Exosect said, "This investment is a further testament to the versatility of our platform technology, Entostat. We have demonstrated its potential as a sustainable delivery system for a wide range of applications, ranging from grain and seed protectants to higher efficiency conventional pesticide reformulations. our out-licensing strategy continue to attract attention and this additional funding will ensure that we can capitalise on these new and exciting opportunities'.
The business strategy will continue to follow the successful open innovation model by focusing on the co-development of a range of pipeline solutions based upon Entostat electrostatic wax powder formulations together with out-licensing specific product applications and product registrations.
Professor Geoff Randall, non-executive director, Exosect said, "The agrochemical and animal health sectors have experienced a monumental shift in the last 20 years. Consumer and regulatory pressure have initiated a move towards ensuring safe and sustainable foo production. The major R&D companies are actively looking for unique and proven solutions to add to their portfolios and innovators like Exosect are providing these solutions".
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| Grain (Photo credit: Wikipedia) |
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