Genomatica Raises $41.5 Million, Withdraws IPO

Biobased technology company Genomatica (San Diego) says it has raised $41.5 million in a Series D financing round, which includes new investor and partner Versalis, and that it will withdraw its registration for a public offering. The funding will enable Genomatica to accelerate commercialization of its 1,4-butanediol (BDO) platform and expand its pipeline into other biochemicals, including butadiene, CEO and founder Christophe Schilling tells CW. Schilling says that the company determined private financing was the best option for Genomatica and its shareholders...

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