Hyasynth bio increases its research on cannabinoids and other active components with promising medical applications
Fourteen investors from Anges Québec invest $392,000 to increase their research capacity and the production yields of their yeast strains.
Montreal, November 30, 2017 – Anges Québec confirms today an investment of $392,000 in support of the research activities and growth and diversification strategy of the Montreal firm Hyasynth Bio. This financial support from Anges Québec is part of a round of investment from multiple partners, for a total of $1,035,000. The company was founded in 2014 with the goal of identifying and producing new therapeutics that are naturally found in plants. The company and its team are leaders in their fields of metabolic engineering, cellular agriculture, and the study of the active compounds derived from cannabis.
Quality, consistency and scale are key requirements for a new medicine to be brought to market. Despite recent advances in production technologies, it is still extremely expensive and difficult to isolate many of the cannabinoids (the therapeutic components of the cannabis plant) from their traditional sources, and even more expensive to synthesize them chemically. Hyasynth uses industrial microorganisms, which can be grown consistently on a large scale, to produce their unique products, which include a wide range of cannabinoids. Their cannabinoids will be used for the production of new medicines and natural health products. Hyasynth leverages the scalability of industrial fermentation to be able to meet the needs of millions of people suffering from epilepsy, neuropathic pain, diabetes and many other indications for which cannabinoids have shown promise.
The investment granted by the 14 members of Anges Québec will also allow Hyasynth Bio to pursue and expand its research, in particular regarding the active molecules derived from cannabis. The laboratory is expanding its research capacity and is moving towards manufacturing this new category of medicines. Hyasynth Bio, which currently has 7 full-time employees, also plans to enter into strategic alliances with partners in Canada, the U.S. and Asia, in order to establish itself as part of the international biopharmaceutical sector.
The financial support of Anges Québec is the first round of investment in the Montreal-based company by the investor members.
"We are a team which has a passion for doing the best science possible and is motivated to solve problems. Having large scale, reliable sources for healthcare products is critical in order for this industry to grow. Our technology will meet this important demand, and with the support from Anges Quebec, our community and government, we are making huge strides in bringing our technology to market", points out Mr. Kevin Chen, co-founder and CEO of Hyasynth.
“We were impressed by the dynamic approach, passion and innovating vision displayed by Mr. Chen and all members of his team. Human health constitutes an exciting area of innovation. It is extremely fulfilling to know that the efforts made and the actions undertaken translate into innovations that impact people’s lives. In that respect, the cutting-edge research work done by Hyasynth Bio on cannabinoid derivatives appears as particularly innovative”, says Mr. Emmanuel Guyot, investor Angel in charge of this round of investment.
About Hyasynth Bio
Located in Montréal, Hyasynth Bio specializes in the production of natural molecules and their derivatives, as well as the development of new molecules that have the potential to become a new generation of therapeutics. The company uses metabolic engineering to create new strains of yeasts that can produce natural products, as an alternative to extraction and chemical synthesis.
A direct release from the company is available at: https://blog.hyasynthbio.com
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