Noble Biomaterials, a US-based company of materials to manage bacteria, has raised $8m in its series B equity financing.
The round was led by Canada-based investment firm Northwater Capital’s Intellectual Property Fund with participation by existing investors, venture capital firm TL Ventures and DuPont Capital Management, which invests on behalf of US-based chemical company DuPont’s pension fund.
In August 2009, TL provided $2.5m in a convertible loan, following its initial funding in January 2005 alongside DuPont.
Jeff Keane, chief executive of Noble, said: "This new financing will help further accelerate our growth rate and enable us to aggressively develop our intellectual property portfolio, a key differentiator in our industry."