Non-stick chewing gum firm raises $20 million
Thursday, 15. May 2008, 14:42:43
LONDON (Reuters Life!) - A British company developing a non-stick chewing gum that can be easily removed from pavements and shoes has raised 10 million pounds ($20 million) to help bring its product to market.
The new financing comes from institutional and private investors, with IP Group -- an early backer -- chipping in an additional 800,000 pounds, the firm said on Wednesday.
Revolymer's new Clean Gum is the result of polymer research at the University of Bristol, where the company was created as a research spin-out in 2005.
Today's chewing gums are made from synthetic latex, which is resistant to the weather and is strongly adhesive. Clean Gum adds a special polymer to modify its properties, making it far less sticky.
(Reporting by Ben Hirschler; Editing by Quentin Bryar)
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