PHILADELPHIA, April 13, 2022 (GLOBE NEWSWIRE) -- Aviridi, a life sciences company and Qualified Opportunity Zone Business, has closed an equity seed round and acquired a 10,000 square foot life sciences facility in Norristown, Pennsylvania, that will serve as the company’s headquarters.
The capital will fuel Aviridi’s R&D and biofermentation capacity as the company builds a life sciences platform with the goal of onshoring global supply chains. The round was led by Aviridi QOZ, a Qualified Opportunity Fund that makes strategic investments in targeted fermentation infrastructure.
The facility, an Opportunity Zone property on Main Street in Norristown, lies within the fast-growing Philadelphia life sciences corridor and will spur opportunities for further life sciences job creation in the community. Aviridi aims to use the space to commercialize high value-add products through synthetic biology and precision fermentation.
“There are tremendous opportunities to reimagine our 20th century global supply chains by taking advantage of life sciences solutions that did not exist 10 years ago,” said James Anderson, Co-founder of Aviridi. “Aviridi will introduce more efficient and sustainable processes that produce higher quality ingredients for the global supply chain, including pharmaceuticals, nutraceuticals and consumer products. This financing validates our strategy and the Norristown acquisition represents a major first step in executing on our vision for product-driven precision fermentation manufacturing.”
Aviridi believes that investment in precision fermentation with in-house research and development creates the optimal approach for the new era of manufacturing through biology. Fermentation is a natural process that has been used by humans for more than 10,000 years and, in combination with synthetic biology, is a cornerstone of next-generation global ingredients manufacturing. Life Sciences advances bring sustainable production of natural ingredients within reach, reducing the need for carbon intensive activities associated with industrial agriculture, offshoring, and long-distance transportation networks.
About Aviridi
Aviridi is a life sciences platform and Qualified Opportunity Zone Business that enables more efficient, sustainable, and consistently high-quality ingredients for pharmaceuticals, nutraceuticals, and consumer products. Through its life sciences R&D and biofermentation capacity, Aviridi aims to relieve the strain on global supply chains and meet consumer demand while creating a more sustainable world. Learn more at Aviridi.co.
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