Front Range Biosciences announced the completion of $3 million in financing. Eight investors participated in the round: Phyto Partners, Salveo Capital, Sand Hill Angels, New York Angels, HBS Angels of NYC, HALLEY Venture Partners, Anthill Ventures, and Canopy Boulder.
Front Range Biosciences is a vertically integrated biotech company with a strong IP portfolio and licensing strategy. According to the company, plant growers are hamstrung by three major problems: expense, risk and safety, and a lack of innovation. Front Range Biosciences enables growers to reduce crop loss due to pathogens, quickly sex plants, and develop new strains of plants that have the most valuable commercial properties. The company’s goal is to increase a grower’s profit, reduce its risk, and give it new products.
According to the company, this funding will go towards scaling Front Range Biosciences’ processes, as well as toward expansion into California and other legal cannabis states in the United States.