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BDO Partnership Advances

9:18 AM MST | March 2, 2012

Genomatica (San Diego) says Mitsubishi Chemical has agreed to exclusively negotiate definitive agreements for a joint commercial operation in Asia using Genomatica’s biobased 1,4-butanediol (BDO) process technology. Under the terms of the agreement, Mitsubishi Chemical has made an upfront payment of $3.5 million, some or all of which may be repaid upon certain conditions. The current agreement continues until the earlier of June 30, 2012, or the date the companies execute a definitive agreement, and builds on a memorandum of understanding signed in April...

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