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Investment in biotech start-up
Media release
23 September 2009
Investment in biotech start-up
Manawatu Investment Group (MIG) has led a $1m first round investment in biotech start-up Polybatics Limited.
Polybatics Ltd designs and manufactures bionanoparticles with functional proteins attached. The technology, devised by Professor of Microbiology Bernd Rehm at Massey University’s Institute of Molecular Biosciences, allows for these biobeads to be manufactured on a large scale quickly and cheaply. It has groundbreaking potential in a variety of industries, from vaccines to washing powders and food processing.
Polybatics Ltd founder Tracy Thompson says the company represents a significant commercial opportunity. “This is a biotech company commercialising a platform technology with the potential to impact both the local and national economies. Our goal is to retain the business in New Zealand as we deliver our high value, high margin products to a global marketplace.”
MIG facilitated the capital investment alongside co-investor’s K1W1 Ltd and New Zealand Venture Investment Fund.
MIG CEO Dean Tilyard says “Polybatics represents very clever technology with high growth potential and what has been particularly pleasing is the high calibre management and directors that have been attracted.”
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