Follow-on deal

OGI Bio plans market growth after further funding

Growth plans: Alex McVey and Moray Martin

OGI Bio, a Scottish biotechnology company, has secured follow-on funding of £650,000 in a deal led by Tricapital Angels.

Other funding came from Scottish Enterprise, Merleview, Apollo, and Old College Capital and will accelerate the company’s growth and expansion in the UK, EU, and US biotechnology sectors.

OGI Bio helps product development in fields such as health and beauty, food manufacturing, feedstock, and green alternatives to petrochemicals.

Chief executive Alex McVey said: “Tricapital Angels has been a crucial partner for OGI Bio since March 2022, leading the company’s first pre-seed raise alongside partners, including long-term backers Apollo Informal Investments.”

Tricapital Angels CEO Moray Martin said OGI Bio “is transforming the biotechnology industry, and we believe they are well-positioned for significant growth.”

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