Conagen receives an investment of 30 M$ from Sumitomo Chemical to support the design of green chemicals

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Type of post: NEWS IN BRIEF.

Conagen (Greater Boston-based biotech) has received a strategic investment from Sumitomo Chemical (Japanese chemical company). The investment will accelerate Conagen’s synthetic biology research and development.
Press release (Conagen): Conagen receives a strategic investment from Sumitomo Chemical, 31/3/2020.
Press release (Sumitomo Chemical): Sumitomo Chemical Invests in Conagen, U.S. Bio-Venture, 2/4/2020.

Figure 1. Conagen receives an investment of 30 M$ from Sumitomo Chemical to support the design of green chemicals (extracted from the press release)

Conagen innovates and develops synthetic biology solutions for supporting global partners across a spectrum of markets (food, nutrition, flavour and fragrance, pharmaceutical and renewable materials). The company has an integration business model with the capacity to scale-up ingredient bioprocesses at multiple biomanufacturing sites around the world.

Sumitomo Chemical has conducted joint research with Conagen since 2018 on the biosynthesis of existing chemicals. Based on the results of the research, last year Sumitomo Chemical made an investment in SweeGen, which is part of a business group centered on Conagen. Now, the biotech firm has received a strategic investment of 30 M$ from Sumitomo Chemical to support the design of high functional products and processes by way of synthetic biology. Both Sumitomo Chemical and Conagen share a vision of bio-designing and introducing sustainable green chemicals to the market for reducing the global chemical footprint that impacts humans, animals, plants and the environment.

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