Thursday, July 7, 2011

OPX Biotechnologies Confirms $36.5M Funding

Boulder-based OPX Biotechnologies, the developer of renewable, bio-based chemical and fuels technology, has confirmed that it has raised $36.5M in the first close of a Series C, private equity financing. According to the firm, the new round was led by US Renewables Group, which also included new investor DBL investors, as well as preio investors Mohr Davidow Ventures, Braemar Energy Ventures, Altira Group and X/Seed Capital. The firm--which is headed by Chas Eggert--said the new funding will go towards accelerating development and commercialization of its products. As part of the funding, Jonathan Koch of USRG has joined the company's board. The firm also said it was advised by Pacific Crest Securities in the funding deal. More information »