AMSilk will use $61m funding to meet growing silk-based biotech demand [Yahoo! Finance]
AJINOMOTO CO UNSP/ADR (AJINY)
NASDAQ:AMEX Investor Relations:
ajinomoto.com/en/ir
Company Research
Source: Yahoo! Finance
The financing was led by existing investor ATHOS (AT Newtec) with strong participation from other existing investors MIG Capital and Novo Holdings. The money will be combined with its €30m in equity, and €22m in convertible bonds and the proceeds will be used to build further commercial traction and support AMSilk's next phase of industrial scale-up. AMSilk believes this will help it to meet growing global demand for its silk-based protein materials. AMSilk's chief financial officer Ralph Fraundorfer said “ We are grateful to our shareholders for their continued support – especially in today's challenging funding environment. The investment demonstrates confidence in our clear path-to-market, scalable technology and strong partner network. As we move to industrial-scale production, we are focused on establishing robust processes and resilient supply chains — providing clear commercial proof of our ability to deliver on our industrial commitments and scale our innovative biomate
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