Developed by nature
BOSTON, April 20 /PRNewswire/
The biotech company wants to disrupt the supply chains of leather, clothing, and personal care products based on synthetic and fossil fuels and annual production volumes. on me Activated Silk™ increased to 900 metric tons
Evolved By Nature, the company that produces a proprietary library of Activated Silk™ molecules derived from natural silk protein, announced today that it has closed $120 million in Series C funding from Teachers’ Venture Growth (TVG), part of the $242 billion for Ontario Teachers. . Retirement Plan Board of Directors, Senator Investment Group.
Activated Silk™ particles are designed to benefit human health, product performance and circular economy. They serve as renewable, sustainable chemicals, bioactive ingredients and new treatments for use in markets such as clothing, personal care and pharmaceuticals.
This funding is accelerating the commercialization of the Activated Silk™ technology platform, which will free global markets from dependence on synthetic materials and fossil fuel derivatives and advance the prospects for regenerative medicine. The funding round coincides with the launch of Evolved By Nature’s state-of-the-art, large-scale manufacturing facility, which will increase production to 900 metric tons of Activated Silk™ annually.
This funding will support the global sale of Evolved By Nature sustainable alternatives to the petrochemical coatings used in today’s leather and textile industries. Over the past year, Evolved’s high-performance biodegradable finishes have been used by fashion brands such as Anya Hindmarch, nylon manufacturers such as Alpine Creations and Apex Holdings, and tanneries such as Richard Hoffmans GmbH & Co. KG, Cyclica Srl, and Cortidos Pingala.
The funding will also promote the introduction of promising, high-performance ingredients from Active Silk™ for Enhanced Skin into both branded personal care and third-party products. Activated Silk™ ingredients will act as natural alternatives to fossil fuel derivatives like Vaseline and harsher synthetic ingredients like retinoids. In parallel, Evolved by Nature will advance the discovery of treatments that effectively improve the appearance of skin and treat commonly overlooked conditions.
“We have crossed critical planetary boundaries. Excessive use of petrochemicals derived from fossil fuels has transformed the biochemistry of the human body and the life support systems of the planet,” said Dr. Greg Altman, CEO and co-founder of Evolved By Nature. With the support of TVG, We can now discover new treatments and… develop global supply chains that foster healthy relationships between industries and ecosystems, initially focusing on skin treatments and performance coatings for leather and apparel.”
“Through this investment, we are now able to make our library of Activated Silk™ molecules available to global development partners,” adds Dr. Rebecca Lacouture, President and CEO and Co-Founder of Evolved by Nature.
Nature’s newly built manufacturing facility in Walpole, Massachusetts opened in May 2022 and currently produces 150 metric tons of Activated Silk™ annually – a 500% increase in capacity over 2021. This funding supports full operations and the capacity to produce 900 metric tons of Activated Silk™ Activated Silk™ annually by 2024. Evolved By Nature calculates that this means 900 million jars of petrochemical-free skincare, 150 million square meters of biodegradable, polyurethane-free leather, and sustainable chemicals for finishing for 195 million garments , or an alternative to the 7,200 metric tons of non-biodegradable petrochemical surfactants that are regularly washed into waterways via skin-cleaning products.
“We believe the use of silk proteins has tremendous potential to create innovative, sustainable, high-quality products that benefit people and the planet,” said Olivia Steadman, CEO of TVG. Scientific frontiers to reduce our dependence on problematic chemicals while building better and more sustainable supply chains. We look forward to working with them to realize this vision and grow their businesses globally. “
Citigroup acted as the sole underwriting agent for this transaction. Nixon represents Peabody, Evolved By Nature.
Information about evolved by nature
Founded in 2013 in Boston, Massachusetts, Evolved By Nature is a biotechnology company that develops solutions to human health needs from renewable sources. Activated Silk biotechnology uses natural silk proteins to create sustainable molecules that have the ability to protect, repair and enhance the barrier function of anything that has a surface. Evolved By Nature empowers the next generation of products that advance the health of people and the planet. The company has opened applications for bioactive silk biotechnology in textiles, personal care, cosmetic and medical treatments, therapies, and more, with unlimited possibilities. www.evolvedbynature.com
About teacher project growth
The Teachers’ Venture Growth (TVG) program focuses on late-stage projects and growth investments in high-tech companies around the world. We partner with founders who want to expand their product offerings, expand geographically, and become leaders in their markets. We bring long-term thinking and active investment to build better companies and make the world a better place. We think globally and act locally with direct presences in San Francisco, Toronto, London and Hong Kong.
TVG is part of the Ontario Teachers Pension Scheme Council (“Ontario Teachers”), a global investor with net assets of C$241.6 billion as of December 31, 2021. We invest in all stocks, real estate in over 50 countries, infrastructure and growth to provide retirement income for 333,000 active and retired teachers in Ontario. With offices in Hong Kong, London, San Francisco, Singapore and Toronto, our more than 350 investment professionals have deep experience in industries from agriculture to artificial intelligence. We are a fully funded defined pension plan and have generated a total annual net return of 9.7% since the plan’s inception in 1990. In Ontario for Educators, we don’t just invest to generate a return, we invest to create a better future – for the teachers we serve, the companies we support and the world we live in .
Original content from: Evolved By Nature, transmitted by aktuell news
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