BioSpace Collaborative

Academic/Biomedical Research
News & Jobs
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

PROFILES
Company Profiles

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Research Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
Get Our Industry eNewsletter FREE email:    
   

Athenix Corporation Secures $12.5 Million In Series B Financing


10/19/2005 5:09:43 PM

RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Jan. 20, 2004--Athenix Corp., a leading biotechnology company developing high-value, bio-industrial products for the Agricultural and Chemical Industries using genetic traits from microbes, announced it has raised $12.5 million in an oversubscribed round of series B private equity financing. Intersouth Partners of Durham, North Carolina, Polaris Venture Partners of Waltham, Massachusetts and Boston Millennia Partners of Boston, Massachusetts led the investment. The round also included new investors Hunt Ventures of Dallas, Texas and Eastman Ventures, the venture capital arm of Eastman Chemical Company of Kingsport, Tennessee.

"We are very impressed with the rapid progress Athenix has made since it was founded in 2001," said Christoph Westphal of Polaris Venture Partners. "We have the utmost confidence in the opportunity, the management team and their business model."

"We are delighted that our initial three venture capital partners participated again in this very successful second round of financing and that we were able to expand the funding syndicate with two additional venture capital partners," said Mike Koziel, President and CEO of Athenix. "We are intensely focused on products. This additional funding will allow Athenix to rapidly transform our success in research and development into innovative products for our target markets."

"We continue to be impressed with Athenix' progress in bringing its world class technology to market," said Rob Jevon of Boston Millennia Partners. "We are very pleased about the corporate alliances that Athenix signed last year. They provide broad market access in key crops and validate the company's business strategy."

Mike Bierman of Hunt Ventures said: "We are excited to join the funding syndicate because Athenix has quickly created an outstanding technology and intellectual property platform. The company is poised to create tremendous value."

About Athenix Corp.

Athenix is a leading biotechnology company developing innovative, high-value, bio-industrial products for the Agricultural and Chemical businesses using genetic traits from microbes. These traits are used to develop enhanced plants, microbes, enzymes, and processes for a variety of industry sectors. Athenix is focused on two major market opportunities: 1) the discovery of genes and proteins for novel input traits (such as insect resistance, nematode resistance and herbicide tolerance), and their use to develop transgenic plants for the Agricultural Chemical and Seed Industries; and 2) the discovery of genes and proteins for improved bioconversion in the Chemical, Alternative Energy and Animal Feed Industries. For more information about Athenix, visit www.athenixcorp.com

Contacts

Athenix Corp. Markus Andres, 919-281-0938 Fax: 919-281-0901



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES
 

//-->