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Codon Devices Secures $11 Million in Series B Financing


3/31/2008 7:19:27 AM

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Codon Devices, the Constructive Biology™ Company, today announced it has secured an $11 million addition to its Series B financing, bringing the total of the Series B round to $31 million. Proceeds from the financing will be used to aggressively expand the Company’s proprietary gene synthesis and protein engineering capabilities, expand its commercial application of synthetic biology to new product offerings, and accelerate its worldwide commercial presence.

All of the Company’s existing venture investors, Alloy Ventures, Flagship Ventures, Highland Capital Partners, Khosla Ventures, Kleiner Perkins Caufield & Byers, and Tactics II Ventures, participated in the financing. Since its founding in 2004, Codon Devices has provided high value synthetic biology products and design services to over 100 customers in the pharmaceutical, biotechnology, industrial biotechnology, institutional and bioenergy fields.

“This fundraising will allow Codon Devices to pursue its vision of creating the leading synthetic biology company in the industry, enabling us to grow our capabilities across the broad spectrum from the discovery and design of engineered protein products to the synthesis of the most complex synthetic gene products in multiple industries,” said Brian M. Baynes, Ph.D., President of Codon Devices. “In addition to strengthening and expanding our proprietary BioFAB™ production platform, we will also pursue new product opportunities and invest in our global sales and marketing efforts.”

“Codon Devices’ powerful technology platform is impacting every segment of the biotechnology-based industry,” said Noubar Afeyan, Ph.D., Chairman of Codon Devices and Managing Partner of Flagship Ventures. “The Company has already achieved success in delivering high-value products, and we believe there is further potential for the Company to advance its protein therapeutic discovery and engineering for important applications for customers and partners in agriculture, industrial biotechnology, and renewable energy.”

About Codon Devices

Codon Devices, Inc., based in Cambridge, MA, is a privately-held biotechnology company focused on enabling commercial applications of synthetic biology. Codon Devices' proprietary synthesis and design technologies improve the productivity of its industrial, pharmaceutical and academic customers in a paradigm shift to what the Company calls Constructive Biology™. The Company's focus is on developing and delivering high-value products and design services in a variety of application areas, including engineered gene libraries, engineered cells that produce novel pharmaceuticals, improved vaccines, agricultural products, and biorefineries for the production of industrial chemicals and energy. More information about Codon Devices is available at www.codondevices.com.

Contact: Yates Public Relations Kathryn Morris, 845-635-9828

Source: Codon Devices, Inc.

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