Vancouver, Canada – June 23, 2021 – Melio Peptide Systems Inc. (“Melio” or “Company”), a privately held biotech company announces the successful close of its C$575,000 follow on seed financing.
Melio was established in November 2020, following the filing of key foundational patents and proof of concept of its antibiotic replacement technology for the fuel ethanol industry. The proceeds from this financing will now be used to accelerate commercial deployment of its novel embedded peptide platform.
“Lactic acid bacterial contamination is still a major issue in the fuel ethanol industry,” stated Dr. Hennie Van Vuuren, Scientific Director of Melio. “Up to now, prophylactic use of antibiotics has been the mainstay of managing the contamination problem. Our embedded peptide technology in yeast can eliminate the use of antibiotics without sacrificing process efficiency.”
Large scale antibiotic usage throughout many agriculture sectors has already led to global awareness and concerns around the human and animal health implications of widespread antibiotic resistance. Many industrial sectors are actively seeking to eliminate or drastically reduce routine antibiotic usage.
“The economic savings from the prevention of yield loss and the reduced antibiotic usage is key for the ethanol industry,” said Dara Djafarian, President of Melio. “We strongly believe the sustainability benefits our embedded peptide technology delivers on reducing the downstream consequences of systemic antibiotic exposure will be equally important.”
Melio Peptide Systems Inc. is a privately held, industrial biotechnology company based in Vancouver, Canada, developing anti-microbial technology to replace antibiotics in industrial fuel ethanol production. Melio’s technology is designed to integrate directly into proprietary bioethanol yeasts to produce anti-microbial peptides, optimized against bacterial contaminants, while maintaining ethanol yield and productivity.