On June 22, 2022, Chinova Bioworks announced it had closed its $6 million Series A financing round co-led by DSM Venturing and Rhapsody Venture Partners with participation from Rich Products. This financing will allow Chinova Bioworks to continue building its team, launch new products and expand its production capabilities on Prince Edward Island.
Chinova Bioworks is a Canadian-based company that addresses the growing consumer demand for healthy, natural, clean-label ingredients. Chinova Bioworks is developing a natural and effective antimicrobial mushroom chitosan fiber with broad spectrum protection to enhance the shelf-life of clean label foods, beverages and cosmetics.
Osler, Hoskin & Harcourt LLP advised Chinova Bioworks with a team consisting of Chad Bayne, Jennifer Humphrey, Janice To and Handi Xu (Emerging and High Growth Companies).