The BDi Biotechnology Group (“BDi”), with headquarters in Castilla y León, Spain closed a 1.9 M€ seed round led by Dyadic International, Inc. (“Dyadic”) a US biotechnology company and Inveready Technology Investment Group (“Inveready”), a venture capital firm specialized in biotechnology and secured a total of 2.0 M€ in contract research program funding.
BDi is a contract research management (“CRM”) organization offering services in product and cell line development, process development, commercial scale up and contract manufacturing to the human and animal health, and food markets.
The company has a laboratory and fermentation facility in the Boecillo Technology Park in Valladolid, Spain, to service its growing business and to enable the Company to achieve a leadership position in CRM services.
BDi is developing top-tier customer relationships and this capital raised will further support its international expansion.
“Our value proposition is based on scientific excellence and a deep knowledge of the markets in which BDi operates, joining technical competencies with market inputs to guide efficient and effective research and development for our customers” said Pablo Gutiérrez, BDi’s CEO. He further stated that: “we have assembled a technically skilled and experienced team that has an excellent track record in research and development and product commercialization which has attracted a strategic partner and investor in the United States, Dyadic, and, the Spanish venture capital firm, Inveready”.
“We are very excited about our collaboration with BDi. They are an excellent research partner to help us further develop our C1 gene expression platform for use in developing and manufacturing lower cost biologic drugs and vaccines for both the Human and Veterinary markets.” said Mark A. Emalfarb, Dyadic’s founder and CEO.
About the companies:
BDi is a company that specializes in providing contract research management services to the biopharmaceutical (human and veterinary) and food industries.
Dyadic International, Inc. is a global biotechnology company which is developing what it believes will be a potentially significant biopharmaceutical gene expression platform based on the fungus Myceliophthora thermophila, nicknamed C1.
Inveready is a seed stage venture capital firm with €90 Million under management.Inveready has a portfolio of 90+ investments in the Information Technology and Biotechnology sectors.