Animal fats firm Synthase Biotech goes bust owing $3.5m

Animal fats firm Synthase Biotech goes bust owing $3.5m
Synthase Biotech's trademarked enzyme Aloxsyn had been shown to improve the ability of cows to conceive. (Image: Unsplash)
Riley Kennedy
An animal breeding startup has collapsed after failing to find enough commercial contracts for its product and cash to keep the operation going.Set up in 2015, Synthase Biotech had developed a plant-based enzyme that stopped fats from going rancid.The Waikato-based company, which leased premises at AgResearch’s Ruakura campus in Hamilton, initially targeted artificial insemination for the global dairy industry and undertook its first capital raise, of $800,000, in 2016.Its trademarked enzyme Aloxsyn had been shown to extend the life of fr...

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