Aquapharm awarded GBP 4m funding

Scotland-headquartered Aquapharm Biodiscovery has raised GBP 4m (USD 8m) in funding from equity groups, which include the venture capital arm of Tate & Lyle and Dutch venture capital firm, Aescap.

Aquapharm develops antiinfectives from microscopic marine elements and is also developing anti-ageing treatments through advanced fermentation technology.

Shareholders in the company include Scottish and Argyll and Islands Enterprise have also increased investment in Aquapharm.

The company has built up a library of over 6500 marine bacteria and fungi and is using the microorganisms to look for products, such as new antibiotics and "functional" foods with health-giving benefits, such as anti-oxidants.

Dr Simon Barnes, managing partner of Tate & Lyle Ventures, said that Aquapharm had an unrivalled ability to develop natural marine-derived ingredients for a wide range of functional food applications and nutraceuticals, in an interview with a local newspaper.