Henley-in-Arden, 30 July 2014 – Technology investor Mercia Fund Management has announced that portfolio company,Oxford Genetics Ltd, has now secured £330,000 in funding in total, including a £100,000 TSB Smart Award.
Oxford Genetics is the biotechnology company behind SnapFast™ – a system that simplifies the purchase of synthetic DNA molecules (plasmids).
Since its first round of SEIS funding in 2013 from Mercia Fund Management, Oxford Genetics has celebrated several major achievements, including the expansion of its range from 200 to over 1,600 DNA plasmids. The company has also launched a dedicated web tool – Plasmid Builder, which allows customers to design and build complex DNA sequences online.
Oxford Genetics has signed agreements with both a global distributor and partners in 30 countries including the US, Canada, Japan and Germany.
The company has also conducted custom work for the prestigious Max Plank Institute, which saw the Oxford Genetics team recreate every gene that is different between a human and a Neanderthal.
Dr Ryan Cawood, founder and MD of Oxford Genetics commented on the company’s decision to work with Mercia Fund Management: “With this additional funding we will look to increase our product range further, invest adding new functionality to the website, and extend our marketing efforts. We are very pleased to have Mercia Fund Management on board. As a technology investor, they provide not only finance but also strategic advice and business support.”
Dr Mark Payton, Managing Director of Mercia Fund Management, added: “A year ago we predicted a promising future for Oxford Genetics and the company has delivered on its early promise. When we first invested in Oxford Genetics the company clearly stood out for us – its SnapFast™ system and the online business model meet an untapped need in the market. The progress made by the company underlines this and we are proud to continue to support its next stage of growth.”
About Mercia Fund Management
Mercia Fund Management is a Midland’s based investment business investing nationally with over £22 million and growing under active management.
Mercia Fund Management provides investment growth capital for technology-backed businesses ranging from early commercial traction through to those seeking expansion or working capital that are trading profitably. Furthermore, Mercia Fund Management can also provide cost-effective post-seed incubator accommodation at its modern facility at the Forward House Workspace in Henley-in-Arden for established portfolio companies, as well as early stage non-portfolio companies, looking for a supportive dynamic environment on offer from an incumbent investment manager who can also provide centralised support services.
Mercia Fund Management is an FCA authorised and regulated fund manager under FSMA (FRN: 524856).