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Oxitec

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Genetically engineered insects for biological pest control

Milton, United KingdomFounded 2002Food
Valuation $25–50M Last recorded · 2021
Revenue $1–10M Latest reported FY
Headcount 100–500 Current team size
Total funding $50–100M Disclosed equity funding
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About Oxitec

Oxitec is a biotechnology company founded in 2002 as a spin-out from the University of Oxford by researchers Luke Alphey and David Kelly. The company develops genetically modified insects to control pests that transmit diseases and destroy crops. Alphey, a geneticist, began working on the idea in the early 2000s, receiving his PhD in biochemistry and later becoming a research fellow and professor at the University of Oxford. The company's current CEO, Grey Frandsen, was appointed in 2017 and has a background in leading public and private sector initiatives related to public health security and biotechnology.

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Oxitec's core technology, known as the self-limiting gene platform or "Friendly™" technology, involves engineering male insects to carry a specific gene. When these modified males are released and mate with wild females, their female offspring inherit the gene, which prevents them from surviving to adulthood. This leads to a targeted reduction in the pest population, as only females bite and transmit diseases. The technology is designed to be species-specific, non-toxic, and environmentally sustainable, as the self-limiting gene does not persist in the ecosystem. Another platform, Sparks™, utilizes Wolbachia technology to reduce dengue transmission.

The company's business model has evolved from being purely a biotech firm to a solutions provider that sells directly to governments, businesses, and consumers. In Brazil, Oxitec launched a direct-to-consumer product consisting of a box containing male mosquito eggs; the customer just adds water to begin the process. This approach targets diseases like dengue fever, Zika, and chikungunya, which are spread by the Aedes aegypti mosquito. Oxitec generates revenue through these sales and through partnerships with governments and corporate clients. The company was acquired by US-based Intrexon Corporation in 2015 for $160 million and then by Third Security in early 2020. It has also received funding from the Bill & Melinda Gates Foundation.

Oxitec has conducted numerous field trials and received regulatory approvals in several countries, including Brazil and the United States. The first trials were performed in the Cayman Islands in 2009. Subsequent successful trials and deployments have taken place in Brazil, Panama, and the US, demonstrating significant reductions in local mosquito populations. The company has received commercial biosafety approval in Brazil and approval from the U.S. Environmental Protection Agency (EPA) for pilot projects in Florida and California.

Source: Dealroom company data

At a glance

Founded
2002
Headquarters
Milton, United Kingdom
Sector
Food

Investors

3 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Seed1 investor entered at this stage

  • Bill & Melinda Gates Foundation

Series A1 investor entered at this stage

  • Oxford Capital

Series B and later1 investor entered at this stage

  • Wellcome Trust
Team profiled 18 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 5 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
11 countries with
team presence
🇬🇧 United Kingdom71.8%
🇧🇷 Brazil14.1%
🏳️ Djibouti2.4%
🇵🇦 Panama2.4%
🇺🇸 United States2.4%
Top 5 of 11 shown

Market sentiment

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