Manchester-based biotech firm Imperagen has raised 5 million pounds (around 6.7 million dollars or 5.9 million euros) in a seed funding round led by PXN Ventures, with participation from IQ Capital and Northern Gritstone. The startup, founded in 2021 by scientists from the Manchester Institute of Biotechnology - Dr Andrew Karin, Dr Tim Aez and Dr Andy Almond - was set up as a university spin-out.

The company aims to speed up enzyme engineering by replacing traditional "trial and error" lab methods with computational approaches. Imperagen uses three core technologies: quantum-physics-based simulation to predict enzyme variant behaviour across millions of mutations; proprietary AI models trained for specific enzyme problems; and automated robots that generate experimental data which is then fed back into the AI system.

Enzymes play a critical role in pharmaceuticals, food production, biofuels and agriculture. According to industry experts, enzyme technology is essential for more sustainable production in these sectors. Competitors in the same space include Biomatter, Cradle Bio and Absci - all chasing the same market.

The new CEO, Guy Levy-Yurista, pointed out that the current approach to enzyme engineering fails at industrial scale even when the AI tools work in laboratory conditions. With the new capital, the company plans to hire AI specialists, fund research and development, expand its experimental laboratory capacity and build out its commercial operation within two years. Imperagen has now raised a total of 8.5 million pounds (about 11.4 million dollars) from investors.