18 Feb Completion of initial funding round and appointment of Chief Operating Officer
Evolution Biotechnologies announces completion of initial funding round and appointment of Chief Operating Officer
Evolution Biotehnologies (www.evolutionbiotech.com), the UK-based company established to expand the use of biological control into medically important areas, today announced the closure of its first funding round, having raised the full sum sought at this time. The investment will support the establishment of the company’s development streams and central corporate facility ahead of further funding rounds. Further announcements on staff appointments and activities are planned for the near future.
The company also announced the appointment of Mr. Aaron Gunn to the board and to the post of Chief Operating Officer of the company. Dr. David Harper, Chief Officer of Evolution, said “I am delighted to welcome Aaron to the board and look forward to working with him as COO. His experience of building businesses in the very competitive environment of the US will bring much added value to the company, both immediately and in the future”.
About Evolution Biotechnologies
Evolution Biotechnologies (UK company 09473027) has been established to extend the application of biological control from its agricultural roots into areas of biomedical importance. The company’s initial targets have both significant unmet need and high market potential. The first stage of Evolution’s work will be based on the outcomes of a successful feasibility study on biological control of the house dust mite. The potential for developing a biological control for the bed bug will also be evaluated, along with the potential for additional targets.
About biological control
Biological control is highly specific in nature, and is perceived as environmentally friendly. The US Environmental Protection Agency (EPA) has stated that “Since biopesticides tend to pose fewer risks than conventional pesticides, EPA generally requires much less data to register a biopesticide”.Biological control methodologies have been extensively used in the agricultural sector and provide a “green” alternative to existing chemical approaches, especially where there are concerns over toxicity or resistance. Despite the validated route through the regulatory process and onto the market, application in the domestic and medical settings has received only limited attention to date.
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