Bio Architecture Lab Raises Cash, OVP Invests in Limerick, & More Seattle-Area Life Sciences News
Raising money and making deals were the trends of our life sciences stories this past week. And sometimes more than just business executives benefit.
—Greg reported that University of Washington spinoff company Bio Architecture Labs raised $3.4 million in equity funding this week. The company, which works to create synthetic biofuels and renewable chemicals, apparently has put the $1.5 million it raised last year to good use.
—Spun out of the same UW research lab (biochemist David Baker’s), Seattle-based Arzeda also had a good week. The company announced it is teaming up with chemical conglomerate Du Pont to make more productive crops. Arzeda develops artificial enzymes that both companies hope will improve the yield of agricultural plants.
—Greg also wrote about San Francisco-based Limerick BioPharma scoring $15 million in a Series C investment led by OVP Venture Partners, based in Kirkland, WA. Limerick is developing methods of cutting down on drug side effects for better outcomes. OVP expects that human trials will validate the investment.
—Water can be cleaned for drinking easily and cheaply, as featured in my story about Seattle-based PATH and Cascade Designs. The two organizations are working together to develop water purifiers for small, poor communities around the world. A Kenyan community with limited access to clean water is testing the latest prototype.
—The Washington Biotechnology & Biomedical Association wants to step up the success of local companies. WBBA president Chris Rivera is working hard to increase venture capital contributions in the area, and has been bringing in major VC players like SR One to show off the talent and try to entice funding for Washington companies, as Luke reported.