Mirexus Biotechnologies raises US$3.7M

Toronto, ON – April 13, 2015

GreenSky Capital is excited to announce that it has assisted in closing a US$3.7M Series A financing round for its client, Mirexus Biotechnologies, Inc., inventors of PhytospherixTM, the world’s first safe and natural monodisperse nanomaterial.

The investment comes 13 months after GreenSky closed Mirexus’s first Seed funding round through the GreenSky President’s Club, a federally registered Angel Group. Several members of the President’s Club increased their initial investment level by participating in the Series A, which valued the company’s shares at over 3 times the price of the Seed round.

The lead investor in the Series A is Goddard Enterprises Ltd (“GEL”) a publicly traded investment firm based out of Bermuda. Below is the full text of GEL’s press release:

Goddard Enterprises Announces Investment with Canadian Biotechnology Firm
Bridgetown, Barbados, April 10, 2015

Goddard Enterprises Ltd (“Goddard”) has announced a new investment venture with Canadian technology firm Mirexus Biotechnologies Inc., inventors of PhytospherixTM, the world’s first safe & natural monodisperse nanomaterial.

GEL will be investing US$3.5M in equity financing as part of an investment consortium that will be supplying a total of at least US$3.7M. Goddard is contributing $2M today and an additional US$1.5M within the next three years. The balance of funds are being provided by existing individual shareholders, originally sourced from the GreenSky Presidents Club, a federally licensed Angel Group managed by GreenSky Capital, Inc. of Toronto.

The funds will be used by Mirexus to market its products, to build manufacturing capability, and to enhance its R&D capability, with an emphasis on working alongside customers on applications research.

“This investment has created a timely opportunity for Goddard Enterprises to expand our capabilities into a whole new area for us. It opens many doors for a Caribbean based organisation to grow in a previously unchartered area for the region” stated Anthony Ali CEO of Goddard Enterprises Ltd. “Mirexus is a relatively young organisation but their thinking and expertise will certainly take us into the future” he added.

“Mirexus is poised for substantial growth in the near future as we introduce our unique safe, natural and sustainable nanomaterial to the world”, says Dr. Phil Whiting, President & CEO of Mirexus. “What we needed was a partner who could provide financial resources as well as enhanced business expertise and market credibility. Goddard Enterprises has the vision to see the exciting future ahead of us, and the resources and capability to help turn that vision to reality.”

Mirexus arose from basic and applied research conducted in the laboratories of Professor John Dutcher of the University of Guelph, who is Chairman of the Mirexus Board of Directors. Phytospherix, Mirexus’ unique safe and natural nanomaterial, was discovered at the University by Dr. Anton Korenevski, currently Mirexus’ Chief Scientist.

“Part of the growth strategy for Goddard is to seek leading innovative technologies with the potential to open up new markets,“ says Anthony Ali, “By targeting the cosmetics, nutrition and bio-medical markets with a completely unique and beneficial material, Mirexus has great potential for rapid growth.”

Anthony Ali will join the Board of Directors of Mirexus. “Tony brings a unique depth of knowledge in both science and business execution to the Mirexus Board,” says Greg Stewart, CFO of Mirexus and President of GreenSky Capital. “GreenSky is excited to have played a role in building such a value-creating relationship.”


About Mirexus Biotechnologies Inc.
Mirexus Inc. is a safe and natural biomaterials company based in Guelph, Ontario that is commercializing a novel nanotechnology based on polysaccharide nanoparticles that can be used in a wide variety of markets ranging from cosmetics to nutraceuticals to biomedical applications in animal and human health. This technology was originally developed at the University of Guelph in the laboratories of Professor John Dutcher. www.mirexus.com


About Goddard Enterprises Inc.
Goddard Enterprises Limited (GEL) is a publicly traded Barbadian company, listed on the Barbados Stock Exchange, with a varied business portfolio. The organisation operates in 22 different countries in the Caribbean, North, South and Central America under 4 divisions of Manufacturing, Catering, Import and Distribution and Financial Services. GEL’s subsidiary companies are found in: airline catering, industrial and restaurant catering, meat processing, bakery operations, automobile retail and automotive parts, real estate, the manufacture of aerosols and liquid detergents, investments, rum distilling, general trading, packaging, property rentals, general insurance, financing as well as shipping agents and stevedoring. www.goddardenterprisesltd.com