Proceeds to be used to Build New Lab and Prepare for Commercialization
FARMINGTON, CONN. (PRWEB) JANUARY 18, 2019
Bactana Corp, a company developing sustainable products that enhance the microbiome of companion animals and improve efficiency of livestock farming while reducing the use of antibiotics and hormones in the world’s food supply, today announced the recent closing of its first equity investment round, which included the conversion of outstanding convertible debt and interest.
Investors in the round included Connecticut Innovations, Cornell University, New York-based Sustainable Income Capital Management, and several other funds and private investors. The company will use the financing proceeds to expand its laboratory at in its new facilities located at the UCONN Health Cell & Genome Science Center, perform additional trials using its FPS-4™ product platform, hire technical experts, and develop commercial manufacturing capabilities in preparation for its initial product launch.
Bactana Animal Health is a global development stage animal health company at the forefront of applying microbial ecology to deliver safe, effective, and sustainable alternatives to antibiotic treatments. Its product platform (FPS-4) is initially being developed for companion animals and food animals, where multiple trials have demonstrated increases in yield efficiency, weight gain, and improved gut health through enhancement to an animal’s microbiome. For more information, please visit www.bactana.com or contact firstname.lastname@example.org.