Aramune Technologies raises £800,000 to scale and trial first product
A BIO-pharma company spun out from the Institute for Global Food Security at Queen’s University has raised £800,000 of new equity funding to develop an industrial-scale process for manufacturing its first animal health product.
Aramune Technologies (www.aramune.com) is developing natural, plant derived feed materials which can be mixed with standard animal feeds to replace antimicrobial agents and promote growth.
The venture is supported by a syndicate of investors which includes the university's commercialisation arm QUBIS as well as Co-Fund NI (managed by Clarendon Fund Managers), the QUBIS Innovation Fund (managed by Sapphire Capital Partners) and a local private investor.
Arumune chief executive Ashley Cooper said: “We're delighted to have secured this funding from investors who are committed to supporting Queen’s spin-out ventures and the local economy.
“The funding means we are now well placed to rapidly exploit the very many commercial applications of our proprietary Aramune compound.”
Stuart Gaffikin, investment manager from Clarendon Fund Managers said: “We are happy to back Aramune Technologies and its experienced management team as part of this seed investment round and look forward to playing our role in supporting the company as it develops and commercialises its products.”
QUBIS corporate finance manager Oisin Lappin added: “Aramune is an exciting new spin-out venture that has emerged from the Queen’s Institute of Global Food Security and we are delighted to support the team as they begin their commercialisation journey.”
Aramune is developing multiple applications for its patented plant compounds that can benefit animal and human health. The unique approach boosts the immune system, increasing natural resistance to bacterial infection, which in turn should minimise the occurrence of antimicrobial resistance in animals and humans.
Its chief scientific officer Professor Brian Green said: “This investment is a vote of confidence in the commercial potential of our research.
“It also follows on from our recent successes in winning £300,000 of funding from Innovate UK and being regional winners of the InterTradeIreland Seedcorn investor readiness competition.”