Global Agri-Food Advancement Partnership () invests in biotech startup Proxima Research & Development
Summary
Saskatoon, SK: Saskatchewans Global Agri-Food Advancement Partnership (GAAP) GAAP is excited to announce the recent close of an undisclosed investment round into Proxima Research and Development Canada.Proxima has developed proprietary technology to better isolate, characterize, and engineer microbes for applications within agriculture, food, and pharma. "Proxima has a vibrant and diverse research and development program which focuses on the isolation and genetic characterization of microbes with applications in food, biofuel, bioproducts, and pharmaceuticals. A prominent example of Proximas work in this area is the development of new yeast strains for brewing applications, providing the means for brewers to develop new and exciting beer varieties and bring them to consumers around the world (https://proxima-rd.ca).This investment came out of GAAPs strong relationship with Ag-West Bio; both companies believe that the power of partnership leads to success.Dr. Zachery Belak, CEO and co-founder and Iain Wallace, CSO and co-founder, say they benefit from Ag-West Bios on-going support, mentorship, and investments, and that participation in GAAPs incubator will help accelerate their business to the next stage.We are excited about this investment from GAAP because of the access to advanced equipment and facilities that it will provide. Access to the GAAPs facilities and technological capabilities through this investment will increase the ability of Proxima to pursue our mission of helping clients achieve their scientific goals, says Belak.