Colorado-Based Startup, Front Range Biosciences has raised $3 million through bridge round funding to implement it’s scaling processes, along with expansion plans.
The round which follows a $1.5 million seed round earlier this year, included investor participation from Phyto Partners, Salveo Capital, San Hill Angel’s, HBS Angels of NYC, NY Angels, Halley Venture Partners, Anthill Ventures and Canopy Boulder.
Front Range Biosciences, was founded in November 2015, by Dr. Jonathan Vaught, Nick Hofmeister, and Dr. Christopher Zalewski. This idea evolved from a passion these founders shared towards a belief that biotechnology could be used to change the world. They also all believed that specialty crops could positively impact the world through medicine, recreation, and nutrition.
What does Front Range Biosciences do?
Front Range Biosciences using the process of tissue culture propagation to produce clean stock or clones that are disease-free. They take a small amount of healthy plant material and put it through a cleaning process. The cleaning process removes all potential pathogens, once pathogens are eliminated, they move into a sterile well-controlled micro-environment where it will receive the specific nutrients it needs at its specific stage of growth.
After this process, the tiny plant material then moves into an incubator that has light and temperature control. During this process, they treat it with proper media formulation which involves the addition of various supplements to an existing basal medium formulation, and then they transfer it to another type of vessel to induce rooting. Once it begins rooting they can remove it and put it into a transplant medium of choice.
Although this process may seem in-depth, the process is extremely beneficial for growers for many reasons such as:
- Maintains cleanliness
- Prevents disease outbreaks
- Efficient process when producing large-scale or mass-produces clones
They also offer a varietal improvement program, that creates a map of cannabis genetics, using Next Generation Sequencing technology. Next Generation Sequencing helps develop relevant traits in a cannabis plant such as disease resistance, oil and resin yield, and production of highly desirable cannabinoid profiles.
How will funds be used?
Front Range Biosciences will begin expanding into new cannabis markets like California and other legal cannabis states in the United States. This expansion would further their presence in the cannabis agriculture space and bring further awareness of how biotech can help propel the industry.
They will also scale their processes so that they can improve cultivation practices for large-scale growing operations and keep up with demand.
Key Strengths of this company
Front Range Biosciences has all the essential traits to continue to gain investor interest, from early customer validation, a secure competitive advantage to a strong team.
They even added another strategic team member in August 2017. Dr. Cecilia Zapata is the Director of Tissue Culture Production. She brings in more than 30 years of experience in tissue culture, plant transformation, and plant production. This includes creating and implementing a program for tissue culture cloning and clean stock programs to ensure only the quality material is produced.
To learn more about Front Range Biosciences, you can visit www.frontrangebio.com.
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