Conagen Receives a Strategic Investment from Sumitomo Chemical

Research and development to support the design of clean green chemicals.

Bedford, Mass., March 31, 2020 (GLOBE NEWSWIRE) -- Greater Boston-based biotech Conagen has received a strategic investment from Sumitomo Chemical, global chemical company in Japan. The investment will accelerate Conagen's synthetic biology research and development contributing to a clean and sustainable planet.

Both Sumitomo Chemical and Conagen share a vision of bio-designing and introducing sustainable green chemicals to the market for reducing the global chemical footprint that impacts humans, animals, plants, and the environment.

"We are enthused to work with Conagen. Our strategic partnership is an excellent example of our commitment to sustainability. Conagen has a history of rapidly developing bio-products for commercialization while simultaneously developing extensive technology platforms. We look forward to supporting their newest innovations in particular areas," said Hiroshi Ueda, vice president, Sumitomo Chemical.

Sustainable production of molecules usually involves the biological processes of fermentation or bioconversion by enzymes. This approach can scale molecules that often cannot be scaled using regular agricultural techniques.  

"We are excited to partner with Sumitomo Chemical to accelerate our growth as a company as they provide deep industrial knowledge, a history of innovation in diverse areas such healthcare, environment, food, and resources and energy to contribute to solve global issues, as well as world class manufacturing expertise," said Conagen's Co-founder and CEO Dr. Oliver Yu.

Conagen's bio-production mission is to develop disruptive technology for producing products that improve humankind. Its science and innovation enable new applications and transform the way ingredients are sourced.

The company's advantage in the synthetic biology space is its one-of-a-kind vertical integration business model with the capacity to scale-up ingredient bioprocesses at multiple biomanufacturing sites around the world.

About Conagen

Conagen is an accomplished biotechnology company located in the greater Boston biotech corridor.We innovate and develop synthetic biology solutions for supporting global partners across a spectrum of current and developing markets.From our proprietary strain development to fermentation and scaling up, Conagen impacts partners' abilities to sell and market products in the food, nutrition, flavor and fragrance, pharmaceutical, and renewable materials industries.

About Sumitomo Chemical

Headquartered in Tokyo, Japan, Sumitomo Chemical is one of Japan's leading chemical companies. It offers a diverse range of products globally in the fields of petrochemicals, energy and functional materials, IT-related chemicals and materials, health and crop science products, and pharmaceuticals. For additional information, visit the company's website at https://www.sumitomo-chem.co.jp/

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