Scot Bio, an ambitious Scottish biotech business, has appointed two former Executive Directors of Robert Wiseman Dairies plc to the company’s board.
Martyn Mulcahy and David Dobbins held positions of Group Operations Director and Group Commercial Director respectively on the main board of the stock market listed dairy business before its sale to Müller.
In addition, Nick Trott has also joined the board bringing valuable financial expertise from his role as Finance Director of Sorbon Investments. Sorbon Investments, which is owned by Michael Shanly, was a significant investor in Scot Bio’s recently oversubscribed £2m funding round, that also included investment syndicate Kelvin Capital, Investing Women, Oghma Partners and private investors in the UK and USA.
Both Martyn Mulcahy and David Dobbins are also early stage investors in Scot Bio along with Robert Wiseman, the former Chief Executive of Robert Wiseman Dairies plc.
Tom Craig, Chairman of Scot Bio said “The new appointments to the board bring unrivalled skills and experience in building businesses in the food sector. Scot Bio is at an extremely exciting stage with patented IP, significant new investment and an exceptional team of scientists behind it. With the guidance of our outstanding board we are looking confidently to the future.”
Polly Van Alstyne, Chief Operating Officer at Scot Bio said. “Scot Bio’s ambition is to be the world leader in the production of phycocyanin and other functional food ingredients. Our enlarged board will undoubtedly bring us closer to realising our ambition. Our new directors have built one of the most successful food sector businesses in recent years and we will be working with them to make Scot Bio another success story.”
Martyn Mulcahy said: “It’s exciting to be part of this outstanding team, building this truly innovative business that is Scot Bio. Upscaling the business quickly is a key task and my experience gained in developing Robert Wiseman Dairies into a market leader, will help the team to make this happen.”
David Dobbins said: “The food industry is constantly looking for innovation in products and in ways of guaranteeing traceability and security of supply. Scot Bio has refined a novel method of producing a natural product that the food industry has a strong interest in. Assisting the Scot Bio team understand the demands of food industry, both commercially and operationally, will be a big part of my role. I have full confidence in our ability to deliver.”
Nick Trott said: “Sorbon Investments are excited to be involved with Scot Bio particularly as this is our first food industry investment outside our core property business. I look forward to working with their first-class team and assisting them with whatever financial advice they require.”
Based in BioCity Glasgow, the biotech incubator located just outside Glasgow, Scot Bio has developed a patented, vessel-based process to respond to worldwide demand for ‘clean labels’ and products free of artificial colours by providing FMCG’s with traceable, natural blue and green colourants.
Natural blues and greens are produced using phycocyanin, an algae derived pigment which received international regulatory approval in 2013. Phycocyanin rich algae is traditionally grown in pond systems, which are seasonal and subject to environmental contamination but Scot Bio through academic collaborations with Newcastle University and The University of Edinburgh has developed systems that are modular and scalable and capable of meeting the demand from global food manufacturers.