OREANDA-NEWS. August 06, 2015. Imperial Innovations Group plc (AIM: IVO, 'the Group', 'Innovations') has completed a 2.5m Series A funding round in Oxford Biotrans, a University of Oxford spin-out company, which is pioneering the commercialisation of biocatalytic processes for the production of high value specialty chemicals, based on its patented enzyme technology.

Innovations first invested in Oxford Biotrans in 2013, making a seed investment of 0.6 million in the company, alongside the University of Oxford. Innovations has now committed ?1.25 million to the Series A round alongside existing investors IP Group and the University of Oxford, with new investors Oxford Innovations and Technology EIS fund and De Monchy Aromatics also participating. Innovations now holds a 41.0% stake in the Company.

Oxford Biotrans' first product is a low-cost, natural grade nootkatone, the flavour and scent of grapefruit. Nootkatone, used in citrus soft drinks, confectionery and perfumes, is one of the most challenging ingredients to access in the world and costs around the same as beluga caviar. Oxford Biotrans' product has already created strong market interest and will be available in commercial quantities in the coming months.

The Company has already identified several further high-value flavour product targets for the next phase of its development and plans to develop further scalable, 'green', and economically attractive enzymatic processes for production of these new targets. Work will also commence to explore targets in other market segments.

Jason King, CEO of Oxford Biotrans, said:

"With this new investment we shall establish purpose built facilities and build a high quality team, the first key members of which are already lined up to come on board. With these resources we shall deliver more novel processes more quickly and pursue a more aggressive and comprehensive monetisation of our technology's full potential."

Robert Bahns, Director Technology Ventures at Imperial Innovations, added:

"Oxford Biotrans has the potential to become a significant player in the high-growth, Industrial Biotechnology industry, so we are delighted to lead this round. The proceeds will help the Company to deliver commercial quantities of its first product, as well as build a pipeline of new ones."

Will Barton, Chairman of Oxford Biotrans said:

"The closing of this oversubscribed investment round represents a significant endorsement of our vision for the Company by both our original investors and by our two new investors. We thank them for their strong support. With the exciting talent that this investment is already enabling us to attract, we shall be well set to deliver on our shareholders' expectations."