National hub, SynbiCITE to support synthetic biology extended with £5.5m funding commitment
SynbiCITE, the UK’s National Centre for the Industrial Translation of Synthetic Biology, has received a £5.5m funding commitment from SynBioVen.
The funding will enable the Imperial-hosted centre to continue to support synthetic biology startups and SMEs, strengthen the emerging UK bioeconomy and help unlock the societal benefits of synthetic biology.
Synthetic biology, also known as engineering biology, is a relatively new field that combines methodologies from engineering and biology to design or re-design biological systems to produce useful and sustainable new products.
The field has a wide variety of real-world applications in cleantech, healthcare and other domains. Using synthetic DNA, cells can be programmed to turn renewable resources such as plants and plant by-products into fossil fuel-free plastics and synthetic fuels, and to produce new pharmaceutical products, vaccines, and materials.
SynbiCITE was established in 2013 to accelerate innovations like these, originally using funding from UK Research & Innovation under the body’s Innovation and Knowledge Centres programme. It has provided synthetic biology startups and SMEs from across the UK with expertise, technical facilities, and business training that have so far helped 27 companies achieve a combined market capitalisation of £790 million.
The centre can now be extended thanks to the funding from SynBioVen, a new VC-backed investment vehicle that has an interest in supporting the UK synthetic biology sector and is also investing in synthetic biology startups.
Success is not given, it is earned. Congratulations to the entire team at SynbiCITE on your funding. I’m certain this company will continue achieving success in its endeavours. All the best.Shishir Gupta, Founder and CEO, StartupLanes
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