SCOTTSDALE, AZ, Avelis Biotech has announced that is has raised an initial $250,000 in capital from a private investor.
Avelis Biotech has announced that is has raised an initial $250,000 in capital from a private investor. Avelis is an Illinois based biotechnology company with operations in Illinois, Louisiana, and Arizona. Avelis is a 'green' biotechnology company focused on intellectual property creation that optimizes nutrient lifecycles, solves problems inherent to chemical use, and reduces costs of fossil fuel reliant businesses. Avelis technologies are increasingly market ready and provide organic formulations that are real solutions to global food and water crises for which there is currently no applicable synthetic or organic product. The company is already shipping product to early clients.
"This capital raise represents a significant step in our strategic plan and will provide the capital we need to continue expansion of our intellectual property portfolio, and to commercialize technologies in key growth markets," said Dr. Justin Cannock, President and Chief Scientific Officer of Avelis Biotech. "We appreciate our investors' confidence in Avelis' ability to create long-term shareholder value as we enhance our customer offerings and gain market share."
The new capital will expand and diversify the Avelis investor base, further strengthen its balance sheet, allow the Company to leverage the investments in research and development and intellectual property protection it has made over the last five years, and support subsidiary company expansion in key markets across the globe.
Avelis has identified three vertical markets for immediate distribution of its products based on wholly-owned patent pending technologies: soil remediation; water remediation; livestock feed economizer. The technologies are based on discoveries using non-synthesized chemistry that optimizes molecular mechanisms of cells.
These technologies play a central role in providing unique, cost effective, and sustainable solutions to soil and water remediation, and reducing the dependence on petro-chemicals in agriculture. The Company's mature R&D portfolio includes lab and field trials, third-party university and government validation, sourcing and scalability.
The company has operations in the SkySong Global Innovation Center in Scottsdale, Arizona, and has support from the ASU Venture Catalyst.