Synthetic biology company OPX Biotech secures $3.6 million in funding for next generation biofuels technology
OPX Biotechnologies, Inc., a new company dedicated to enabling economically viable biofuels and biorefined chemicals through synthetic biology research announces that it has secured $3.6 million in venture funding led by Mohr Davidow Ventures (MDV), a leading Silicon Valley-based venture capital firm.
OPX has developed a first-of-its-kind genomics technology platform known as SCALEs (SCalar Analysis of Library Enrichments) that enables massively parallel full genome search, identification of specific causative genes, and rapid genetic modification and testing. The platform allows OPX to identify the role of each gene and how to modify it to achieve the characteristics needed for specific fuel and chemical products 1000 to 5000 times faster than conventional methods. The result is to quickly engineer new microbes to provide major improvements in tolerance, productivity, and specificity for fuel and chemicals production using biological processes. This might vastly decrease the production costs and capital requirements for renewal fuels and chemicals. SCALEs is based on pioneering genomics work by Professor Ryan Gill and Dr. Michael Lynch at the University of Colorado.
Besides Mohr Davidow Ventures, a major Silicon Valley venture firm and one of the top investors in the clean technology field, X/Seed Capital, a leading seed stage venture firm, invested in OPX earlier and participated again in this second round:
energy :: sustainability :: biomass :: bioenergy :: biofuels :: bioproducts :: synthetic biology :: genomics :: biotechnology :: bioeconomy ::
OPX received seed financing from X/Seed in June, 2007.
The company further announced that it appointed Rob Chess Chairman and CEO. Chess serves on the Board of Directors of the Biotechnology Industry Organization (BIO). He received his B.S. degree in Engineering from the California Institute of Technology and an M.B.A. from Harvard. Chess has held leading positions in Nektar Therapeutics, a company that develops improved pharmaceutical products using its innovative drug delivery platforms, and was co-founder and President of Penederm, Inc., a publicly-traded dermatological pharmaceutical company that was sold to Mylan Laboratories. He has held management positions at Intel Corporation and Metaphor Computer Systems (now part of IBM), and was a member of the first President Bush's White House staff.
The OPX Board of Directors includes MDV's Erik Straser, X/Seed's Michael Borrus, Professor Ryan Gill, a co-founder of the company and the Patten Assistant Professor of Chemical Engineering at University of Colorado, and Rob Chess as Chairman and CEO.
Mohr Davidow Ventures is a leading Silicon Valley-based venture capital firm that for 25 years has identified, mentored and developed entrepreneurs and young companies redefining business, technology and medicine. MDV has $2 billion dollars under management.
X/Seed Capital is an early-stage venture firm that provides seed capital for breakthrough innovators. X/Seed was founded in 2006 and is based in Silicon Valley.
Schematic: from DNA collection to reprogrammed microorganism. Credit: Synthetic genomics.
References:
Michael D Lynch, Tanya Warnecke & Ryan T Gill. “SCALEs: multiscale analysis of library enrichment”, Nature Methods - 4, 87 - 93 (2007), doi:10.1038/nmeth946
Ryan T. Gill, Tanya Warnecke, Michael D. Lynch, Amarjeet Singh, "Using Genomics to Direct Strain Selections", AIChE 2007 Annual Meeting, Biomolecular Engineering.
OPX has developed a first-of-its-kind genomics technology platform known as SCALEs (SCalar Analysis of Library Enrichments) that enables massively parallel full genome search, identification of specific causative genes, and rapid genetic modification and testing. The platform allows OPX to identify the role of each gene and how to modify it to achieve the characteristics needed for specific fuel and chemical products 1000 to 5000 times faster than conventional methods. The result is to quickly engineer new microbes to provide major improvements in tolerance, productivity, and specificity for fuel and chemicals production using biological processes. This might vastly decrease the production costs and capital requirements for renewal fuels and chemicals. SCALEs is based on pioneering genomics work by Professor Ryan Gill and Dr. Michael Lynch at the University of Colorado.
OPX has the potential to address one of the great challenges of our time - meeting the tremendous demand for renewable fuels and chemicals that are cost competitive and superior to petroleum-based products with far lower carbon emissions. Their proprietary, first of its kind massively parallel, full genome search and gene modification technology platform is a major breakthrough in synthetic biology that could vastly reduce the time it takes to design the microbes needed for economically viable biofuels and biorefined chemicals. - Erik Straser, MDV general partnerSynthetic biology is a rapidly emerging, disruptive science field with great promise for the production of abundant biofuels and renewable, innovative bioproducts (previous post). It is based on collecting and sequencing large amounts of genetic material from the environment (from microorganisms in oceans, soils, etc), analyzing and matching the most interesting sequences to recombine and reorganize them so that they are programmed to carry out a specific bioconversion process; the synthetically engineered 'building blocks' are then inserted into (micro)organisms or used as such as artificial 'biological machines', which perform the desired task (schematic, click to enlarge).
Besides Mohr Davidow Ventures, a major Silicon Valley venture firm and one of the top investors in the clean technology field, X/Seed Capital, a leading seed stage venture firm, invested in OPX earlier and participated again in this second round:
energy :: sustainability :: biomass :: bioenergy :: biofuels :: bioproducts :: synthetic biology :: genomics :: biotechnology :: bioeconomy ::
OPX received seed financing from X/Seed in June, 2007.
The company further announced that it appointed Rob Chess Chairman and CEO. Chess serves on the Board of Directors of the Biotechnology Industry Organization (BIO). He received his B.S. degree in Engineering from the California Institute of Technology and an M.B.A. from Harvard. Chess has held leading positions in Nektar Therapeutics, a company that develops improved pharmaceutical products using its innovative drug delivery platforms, and was co-founder and President of Penederm, Inc., a publicly-traded dermatological pharmaceutical company that was sold to Mylan Laboratories. He has held management positions at Intel Corporation and Metaphor Computer Systems (now part of IBM), and was a member of the first President Bush's White House staff.
The OPX Board of Directors includes MDV's Erik Straser, X/Seed's Michael Borrus, Professor Ryan Gill, a co-founder of the company and the Patten Assistant Professor of Chemical Engineering at University of Colorado, and Rob Chess as Chairman and CEO.
Mohr Davidow Ventures is a leading Silicon Valley-based venture capital firm that for 25 years has identified, mentored and developed entrepreneurs and young companies redefining business, technology and medicine. MDV has $2 billion dollars under management.
X/Seed Capital is an early-stage venture firm that provides seed capital for breakthrough innovators. X/Seed was founded in 2006 and is based in Silicon Valley.
Schematic: from DNA collection to reprogrammed microorganism. Credit: Synthetic genomics.
References:
Michael D Lynch, Tanya Warnecke & Ryan T Gill. “SCALEs: multiscale analysis of library enrichment”, Nature Methods - 4, 87 - 93 (2007), doi:10.1038/nmeth946
Ryan T. Gill, Tanya Warnecke, Michael D. Lynch, Amarjeet Singh, "Using Genomics to Direct Strain Selections", AIChE 2007 Annual Meeting, Biomolecular Engineering.
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