AMSilk GmbH, based in IZB Martinsried has secured new capital in a financing round. The world's first industrial manufacturer of synthetic silk molecules has thus already raised a double-digit million amount in total investments.
Existing institutional investors AT Newtec and MIG Fonds also provided the additional capital. AMSilk plans to use the funds to expand production of its proprietary high-performance fiber Biosteel, finance clinical trials for medical technology products, and strengthen sales. CEO Jens Klein commented:
"We greatly appreciate the trust our long-standing investors AT Newtec and MIG Fonds have placed in us by reinvesting in AMSilk. For us, this is wonderful confirmation that our products are compelling and have a promising future ahead of them. After many years of development, we are currently in the commercialization phase for our products with AMSilk high-performance biopolymers for use in medical technology, cosmetics, and personal care products, as well as with our BIOSTEEL® fibers for industrial applications and textiles."
Diverse application possibilities
Dr. Matthias Kromayer, member of the board of MIG Verwaltungs AG and deputy chairman of the advisory board of AMSilk, says:
"AMSilk and its innovative product concept of developing a high-performance organic material modeled on spider silk using a biotechnological process convinced us from the outset. With several products already on the market, the company is now poised to launch a range of additional products and applications. Therefore, we were immediately willing to invest further in the company with the current financing, thus participating in AMSilk's future success."
The biotech company is planning a clinical trial with a leading European manufacturer using silk biopolymer-coated breast implants, which are expected to offer significantly better tolerability. Market launch is planned for 2017. The company also plans to use its products in innovative textiles and cosmetic ingredients.
