Verenium secures $22 million in financing

Enzymes firm Verenium (Cambridge, MA) says it has secured $22.5 million in debt financing from the Athyrium Opportunities Fund to advance its pipeline and expand its manufacturing base. Net proceeds after estimated expenses will be approximately $21.3 million. The debt bears interest at 11.5% per annum, with interest payments due quarterly over a 5-year term and the principal balance due as a lump-sum payment at maturity in December 2017. In connection with the financing, Verenium issued warrants to Athyrium to purchase approximately 2.9-million shares of...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers