Aquapharm Biodiscovery, a Scottish biotech aiming to discover new antibiotics and antioxidants from marine organisms, raised $8.3 million (£4 million) in a second funding round (PDF). The company, based near Oban in the European Center for Marine Biotechnology, harvests and cultures marine microbes in order to screen them for new biochemicals that might serve as drugs or food and cosmetics additives.
Aescap Venture led the round, joined by Tate & Lyle Ventures, Scottish Enterprise, NESTA Investments and HIE Argyll and the Islands.