On Monday, biotech startup, TAXA Biotechnologies, Inc., made history by being one of the first to use Title III rules of the JOBS Act. The company launched its initial on equity crowdfunding platform, WeFunder.
Founded in 2013, TAXA Biotechnologies consists of biologists and experts who use synthetic biology technologies to engineer new organisms, which can be nurtured at home as carbon-positive alternatives to existing products. The company provides access to a platform for protein engineering, automated DNA assembly, transient experiments and stable transformation as a service that is already being used by three partners. It became the first biotech investment by Y Combinator.
“We offer our platform both as a service to other companies and use it internally to develop our own engineered plants. We make money from platform access service fees and from royalties on the sale of the final products. Our first product is a Glowing Plant, which was the first Kickstarter for a synthetic biology application earning us over $600k in pre-orders. We are also close to shipping a Fragrant Moss.”
Other TAXA Biotechnologies’ achievements include:
- Has over $600,000 in pre-orders on for its Kickstarter product, Glowing Plant.
- Has shipped the first ever kit that allows customers to genetically engineer a planet from home.
- Signed three collaborative research agreements with partner companies for its platform
The company also noted:
“Our goal is to put biotechnology in the hands of everyone, starting at the consumer level, this will enable a shift to a circular economy where resources are not dug from finite supplies in the ground but produced sustainably, without CO2, when needed.”
TAXA Biotechnologies will be offering up to $1 Million at a $1 share price with a $7 million valuation cap.
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