Delaware Innovation Space Makes $265,000 in First Fund Investments

WILMINGTON, Del.–()–Delaware Innovation Space, a multi-dimensional, non-profit incubator and accelerator for science-based start-up companies, announced today that it has invested a total of $265,000 in three companies, including Gaskiya Diagnostics, Layer Metrics and Revolve Biotechnologies.

All three companies will join the Delaware Innovation Space as new resident companies in addition to receiving capital investments. Each company was selected from a pool of over 50 startups that had applied earlier this year for First Fund investments.

“The Delaware Innovation Space continues to intensify our support for early stage science entrepreneurs and the First Fund is that next step,” said Bill Provine, President and CEO of the Delaware Innovation Space. “Gaskiya Diagnostics, Layer Metrics and Revolve Biotechnologies are perfect adds to the portfolio of companies that call the Delaware Innovation Space home – scalable, high potential, impactful, and investable startups led by driven entrepreneurs moving science from the lab to the marketplace with speed and intensity.”

Gaskiya Diagnostics serves the $250 billion/year aquaculture industry by enabling farmers to quickly diagnose disease in their stock and take immediate action to mitigate its impact. No specialized training or equipment are needed to perform the tests, making them broadly accessible to farmers of all skill sets. Rapid diagnosis leads to faster treatment, fewer losses and more quality food to meet global demand.

“The Delaware Innovation Space offers precisely what Gaskiya needs at our current stage of accelerated product development, and we are thrilled to be a part of it,” said Mary Larkin, PhD, CEO with Gaskiya Diagnostics. “The access to shared equipment facilities, as well as generous lending of equipment to our lab, are helping us to quickly get up and running in our new space. The First Fund investment is meeting several critical needs for our company’s growth, including growing our team in order to expedite and expand our product development to best meet the needs of our customers.”

Layer Metrics Inc. is an optical monitoring company focused on quality control for 3D metal additive manufacturing (AM). AM printing is a volatile multi-faceted process that is difficult to control and prone to distortions. The Layer Metrics team has developed a new optical hardware sensor system to monitor and detect flaws during the manufacturing process. This enables the user to take corrective action while the part is being printed. The Layer Metric patent pending system captures an amalgam of real-time synchronized data to deliver confidence in build-integrity of 3D metal printed parts. This key enabling refinement of the AM process will fuel rapid growth as AM transitions from high-end, low-volume to mass manufacturing.

“Layer Metrics is excited and privileged to be among the first companies to receive an investment from the Delaware Innovation Space and its First Fund,” said Clare Murphy, CEO of Layer Metrics. “Additionally, access to this world-renowned, vibrant ecosystem connects us to new opportunities that are backed by a distinguished, broad-based and deeply experienced team. Supported by Delaware Innovation Space, Layer Metrics is accelerating its new monitoring technology to the marketplace.”

Revolve Biotechnologies serves the drug development industry by unlocking the full potential of protein engineering. The core technology, licensed from Johns Hopkins University, drives novel creation of optimized proteins for therapeutics, diagnostics and research tools. Revolve generates comprehensive DNA variant libraries four times faster and provides up to 1000x more coverage than competing technologies. Revolve currently sells to the biopharmaceutical industry as well as develops its own enzyme and antibody-based therapeutics.

“The Delaware Innovation Space is the perfect location for Revolve to provide services to our customers,” says Alex Meltzer, PhD, CEO of Revolve. “With a strong scientific community of other successful biotech companies, Revolve will be immersed in an ecosystem built to drive innovation. The First Fund investment, combined with the state-of-the-art facilities and equipment of the space, will allow Revolve to focus on growing revenue with the confidence that it can meet customer demand.”

Science and technology-focused entrepreneurs who would like to apply for funding from the First Fund at the Delaware Innovation Space can apply via our application website. More details on the program can be found here.

About Delaware Innovation Space:

Delaware Innovation Space is a multi-dimensional, non-profit incubator & accelerator for start-ups that leverages the expertise, resources, and infrastructure of the world renown Experimental Station campus in Wilmington, Delaware. It is the result of a public-private partnership between the State of Delaware, DuPont and the University of Delaware. Delaware Innovation Space is an ecosystem where scientists, business leaders, community members, investors, and service providers in the industrial biotech, advanced materials, chemical ingredients, renewable energy, nutrition and healthcare fields can build business concepts together and accelerate the path to commercialization. Learn more: www.deinnovates.org

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