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Business
Metabolix Raises Needed Cash
by Alexander H. Tullo
June 29, 2015
| A version of this story appeared in
Volume 93, Issue 26
Metabolix, a maker of biobased polyhydroxyalkanoate, has raised $15.0 million through a private placement of stock. Jack W. Schuler of Crabtree Partners, Birchview Capital, and Hong Kong Sino-Science Oil & Gas participated in the round. Schuler and Birchview had previously invested in Metabolix. The deal includes options to purchase stock that could net Metabolix another $15.6 million. Metabolix burned through $6.8 million in cash during the first quarter of this year and had only $13.3 million in cash remaining on its balance sheet.
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