15 May 2018 – DMC (www.dmcbio.com), an early-stage biotechnology company, announced today Carolyn Fritz has joined their Board of Directors and will serve as Chairperson. DMC, which was founded in 2014, develops bio-based products using enhanced fermentation.
Ms. Fritz has more than twenty years of experience in successfully building industrial biotechnology businesses. From 2004 – 2014, she built Allylix from a start-up, raising $34 million in venture financing, creating a pipeline of products for the flavor & fragrance and insect control markets, establishing key strategic partnerships, scaling up and commercializing the first two products to a successful sale of company to a European biotechnology company in 2014. From 1999 to 2004, at Dow Chemical, she built a renewable chemical business and a biopharmaceutical contract manufacturing business. From 1993 to 1999, at Cargill, she built a plant biotechnology business focused on developing new food ingredients and industrial products from canola oil. She is currently advising multinational and early stage companies in defining and building industrial and ag biotechnology businesses.
“I am excited to join DMC’s board,” said Carolyn Fritz. “The founding team has decades of experience and an insightful approach that has allowed them to create a paradigm shift in the development of industrial fermentation processes. DMC’s technology platform allows it to rapidly and cost effectively develop a broad range of products for both large and small markets and positions the company for significant commercial growth.”
In addition to serving on DMC’s board, Ms. Fritz is a member of Athena San Diego Board of Directors. She served as a member of the Biotechnology Industry Organization Board from 2007-2014, as a board director of Allylix Inc from 2005-2014, and a board member of Innovase, a Dow Chemical – Diversa industrial enzyme joint venture, from 2002-2004. Ms. Fritz has an M.B.A. from the Wharton School of the University of Pennsylvania, an M.S. from George Washington University, and a B.S. in Mechanical Engineering from Iowa State University.
DMC makes bio-based products using enhanced microbial fermentation. Modification of the programming language for microbes to enhance productivity has historically been complicated, slow, and costly. DMC has developed technology to reduce biological complexity and enhance the speed of development, creating a low cost, fermentation-based manufacturing platform that has the capability to produce a broad diversity of products.
“Carolyn brings a wealth of expertise in developing industrial biotechnology businesses. Her demonstrable successes with both emerging and established companies is impressive. We are excited to have Carolyn join the team,” said Matt Lipscomb, Ph.D., CEO and Co-Founder of DMC.
About DMC
DMC is unleashing the manufacturing power of biology. DMC develops and commercializes bio-based products for multiple product markets, including specialty chemicals, flavors, fragrances, nutraceuticals, and APIs. For more information, visit: www.dmcbio.com
