TeselaGen Biotechnology has received a $500,000 SBIR Phase IIB grant to expand their bioCAD/CAM software suite, which uses synthetic biology approaches to gene editing and genetic engineering. The Small Business Innovation Research matching grant will be used to develop “Version 1.0” of the enterprise platform. The grant was matched by >$1M in early revenue from product licensing of the beta platform.
Using TeselaGen’s technology, companies accelerate development of their proprietary organisms and plant varieties. These organisms act as living factories for sustainable production of biofuel substitutes for petroleum, for biologically derived medicines, enzymes, flavors and fragrances as well as other bioproducts. The platform allows customers to maintain control over their valuable intellectual property while collaborating with contractors and vendors.
“TeselaGen’s award comes at a time when we have had some exceptional success with our Fortune 50 clients,” said Mike Fero, CEO, TeselaGen. “We are very excited to be a leader in building valuable software that enables breakthroughs that will provide for a more sustainable biobased future. Also, pretty happy about the substantial revenue that made this matching grant possible. For a talented young team of recent bioengineering and computer science grads building state of the art scientific software, this is great news.”