July 4, 2018

Manus Bio Raises $19.4 million Series A Financing to Accelerate Product Commercialization and Expands Board of Directors

Manus Bio

CAMBRIDGE, Mass., July 03, 2018 (GLOBE NEWSWIRE) — Manus Bio Inc. (Manus Bio), a supplier of natural ingredients, announced today that it has raised $19.4 million through the issuance of Series A Preferred Shares to accelerate commercialization of its products. This financing included investments from both new and existing investors.  Manus Bio has appointed Byron Alsberg of 415 Investments and Raymond Nobu Chang of NXT Ventures to the Board of Directors.

“Over the last few years, we have developed an advanced fermentation technology platform that provides a scalable, sustainable and cost-effective source for many natural ingredients,” said Dr. Ajikumar Parayil, founder and CEO of Manus Bio.  “With this new funding, we are now well-positioned to scale our manufacturing and distribution capabilities.”

In addition, Manus Bio has appointed two industry veterans as Independent Directors – Michael Carlos, formerly at Givaudan, and Zanna McFerson, formerly at Cargill and Amyris.

Mr. Carlos has over three decades of experience in the field of flavors and fragrances. He previously served as President of the Fragrance Division of Givaudan and currently serves as Chairman of the International Fragrance Association (IFRA) and the Research Institute of Fragrance Materials. Mr. Carlos is also a Director of Givaudan SA and Deinove SA. Zanna McFerson worked for over 20 years at Cargill, which included her role as Vice-President of Health and Nutrition where she led the launch and growth of the Truvia® brand of stevia sweeteners in the US, Latin America and Europe.  Ms. McFerson is also a founder of the International Stevia Council and served as its first president.  Following her career at Cargill, Ms. McFerson served as Chief Business Officer at Amyris and currently serves as Chief Business Officer at Avantium.

“We are delighted to have industry leaders such as Michael Carlos and Zanna McFerson join our Board of Directors,” Dr. Parayil continued.  “Their deep knowledge and experience will be invaluable as Manus Bio continues to translate its technology into commercial products.”

About Manus Bio

Manus Bio leverages rapid advances in Biology to produce complex natural ingredients used in our daily lives as flavors, fragrances, food ingredients, cosmetics, vitamins, pharmaceuticals and agricultural chemicals.  Using its advanced fermentation technology, Manus Bio recreates natural processes for next-generation industrial biomanufacturing and provides sustainable and cost-effective sources of ingredients for health, wellness, and nutrition.  To learn more, visit www.manusbio.com

Source: https://globenewswire.com/news-release/2018/07/03/1533033/0/en/Manus-Bio-Raises-19-4-million-Series-A-Financing-to-Accelerate-Product-Commercialization-and-Expands-Board-of-Directors.html

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