Toyobo invests in U.S. biotech startup DMC Biotechnologies Inc. to accelerate open innovation for improved productivity in bio-business
Toyobo Co., Ltd. invested in DMC Biotechnologies Inc. (DMC), a U.S. biotech startup based in Colorado, in January 2022.
Established in 2014, DMC is a biotech company that develops chemical products through precision microbe fermentation. Biochemical products are generally associated with low production efficiency, because unnecessary byproducts are generated when producing them. DMC was a pioneer in developing a standard process independent of the specific product or scale that is capable of selectively and efficiently producing the target chemical product by using its Dynamic Metabolic Control TM*1 precision fermentation technology. It is expected that DMC’s broad range of products, including pharmaceuticals, supplements and feed additives, are usable to help to realize a sustainable society.
Since it joined the Capricorn Sustainable Chemistry Fund (CSCF)*2, a European-based venture capital fund for chemistry-related fields, in 2018, Toyobo has been searching for startups that match its business. After being introduced to DMC by CSCF, Toyobo participated in DMC’s Series B*3 fundraising*4. Toyobo will start looking at ways to use the knowhow from DMC’s sophisticated fermentation process technologies to enhance the efficiency of making its bioproducts.
Toyobo aims to become “a group that continues to create the solutions needed by people and the earth with materials and science.” Going forward, the company will promote open innovation through investment in promising startups to help solve challenges faced by society.
| *1 | Dynamic Metabolic Control TM is a trademark of DMC. |
| *2 | Refer to Toyobo’s press release dated on February 14, 2019, https://www.toyobo-global.com/news/2019/release_34.html |
| *3 | Fundraising done by startups that have accomplished certain milestones in developing their business to make further growth |
| *4 | Refer to DMC’s press release dated January 31, 2022, https://dmcbio.com/subsequent-close-of-series-b-financing-total-raised-39-million/ |
About DMC
DMC is a US bio-based chemical company that makes products using microbial fermentation. DMC’s proprietary technology platform simplifies the engineering of biology and makes fermentation more standardized, robust, and predictable. For more information, visit: www.dmcbio.com
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