Chicago, Illinois
December 5, 2008
Chromatin, Inc. today
announced that it has completed a Series C financing round of
$12.4 million, led by Quantitative Financial Strategies, Inc.
("Quant") (Greenwich, CT), and joined by the Malaysian Life
Sciences Capital Fund ("MLSCF") and Chromatin's existing
investors Burrill & Company, Venture Investors, Unilever
Technology Ventures, Foragen Technology Ventures, and Illinois
Ventures.
Chromatin has developed, protected and commercialized
mini-chromosome technology - an innovation that makes it
possible to introduce multiple genes (gene stacks)
simultaneously into any plant cell. "With this financing round,
Chromatin will leverage the success of its gene stacking
capability to aggressively enter the bioenergy feedstock
market," said Dr. Daphne Preuss, Chromatin's CEO and co-founder.
Chromatin previously announced partnerships with leading
agricultural companies to advance mini-chromosome applications
in crops such as corn and soybeans. This investment will support
the development of proprietary feedstocks that contain the gene
stacks needed to improve yields and reduce the costs of
producing fermentable sugars. The company plans to launch
strategic partnerships with industry leaders to provide
distribution channels for its bioenergy products.
"Chromatin's technologies and products will address needs in
multiple global markets. I look forward to the Company's
success," said Dr. Sanford Grossman of Quant, who has joined
Chromatin's Board of Directors.
"We welcome Quant and MLSCF as investors in Chromatin", said
John Hamer, Chairman of Chromatin's Board of Directors, a
Managing Director of Burrill and Company, and a Director of
MLSCF. "I am encouraged by Chromatin's progress in developing
its technology and in attracting significant interest from
leading companies in the agriculture and bioenergy sectors."
Chromatin previously raised $12 million in equity financing.
The company's core mini-chromosome technology allows rapid
improvement of crops and feedstocks for agriculture and
bioenergy markets, accelerating product pipelines, reducing
production costs, and enabling novel plant-based products. |
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