University startup OGI Bio raises £1m for new lab
Edinburgh University biotech startup OGI Bio has secured £1 million to invest in a new laboratory and manufacturing facility, grow its team, and ramp up sales.
OGI Bio was co-founded in 2020 and has already begun shipping the first customer orders for its device to help grow microbes.
It was set up by Edinburgh physics graduate and Royal Society of Edinburgh Fellow Alex McVey, and Professor Teuta Pilizota, a specialist on microbial physiology and chair of biophysics at the University.
Mr McVey said: “Our aim is to ultimately have one of our devices on the bench of every microbiologist and biotechnologist, enabling them to innovate more productively, flexibly, and sustainably.”
Tricapital led the investment round alongside Apollo Informal Investment, Old College Capital, the University of Edinburgh’s in-house venture investment fund, Sapphire Capital Partners in conjunction with Queen’s University Belfast’s QUBIS Innovation Fund, Merleview (Capital), and Scottish Enterprise.
Moray Martin, chairman and managing partner of the Tricapital Syndicate, said: “OGI Bio has a world-class leadership team, an exciting product that is already achieving commercial success and coherent and realisable plans to extend its product range. We are delighted to be supporting Alex, Teuta, and the team through its scale up phase.”
The company’s board is chaired by Stephen Roe, supported by investor directors Michiel Smith representing TRICAP and Apollo and Andrew Murphy representing Old College Capital.
OGI Bio was advised by Vialex while Anderson Strathern and Brodies acted for the investors.