Metabolix Raises Needed Cash | Chemical & Engineering News
Volume 93 Issue 26 | p. 14 | Concentrates
Issue Date: June 29, 2015

Metabolix Raises Needed Cash

Department: Business
Keywords: biobased polymers, startups

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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ISSN 0009-2347
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