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Glycos Biotechnologies has raised $5 million in early-stage funding from the venture capital firms Draper Fisher Jurvetson and DFJ Mercury. A spin-off of Rice University, Glycos is working on converting glycerin into bulk chemicals through microbial fermentation. The company will use the money to hire technical staff and develop its technology to the manufacturing scale. DFJ Mercury focuses on university spin-offs and businesses in the incubation stage.
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