MENLO PARK, Calif., Dec. 21 /PRNewswire/ -- Solazyme, a leading algal biotechnology company, today announced the completion of a financing round led by The Roda Group of Berkeley, California.
“We are extremely pleased to have received such strong support from both existing and new investors,” said Harrison F. Dillon, CEO and co-founder of Solazyme. “The new round of funding will allow us to expedite our development efforts.”
Solazyme is currently using algae to manufacture bioactive compounds for treatment of diabetes, heart disease, cancer and other select indications. These compounds are strong candidates for introduction to both pharmaceutical and non-pharmaceutical markets.
“Solazyme’s technology and team represent an important opportunity with the potential to penetrate large and growing markets with highly effective and safe products,” said Dan Miller, Managing Director of the Roda Group who is joining Solazyme’s Board of Directors. “Algae present the same untapped, diverse and exciting opportunities that the large pharmaceutical companies found in the rainforests 30 years ago.”
Solazyme also announced that Dr. Michael V. Arbige has joined its Board of Directors. Dr. Arbige is currently the Senior Vice President of Technology at Genencor International. “Solazyme is emerging as a new platform technology which should have both a short term product impact in the areas of functional foods and nutraceuticals as well as a long term impact in the pharmaceutical arena. They have the right team and the right vision to make a sizeable impact in these multibillion dollar markets,” said Dr. Arbige. More information on Solazyme’s new board members can be found online at www.solazyme.com
About Solazyme:
Founded in 2003 in Menlo Park, California, Solazyme is devoted to harnessing the energy-harvesting machinery of various species of algae to produce valuable products. The Company utilizes proprietary genetic engineering methods to develop and optimize commercially relevant biochemical pathways for production of Nutraceutical/Cosmeceutical and Pharmaceutical products. For more information, please visit our website: www.solazyme.com or contact us at 650-780-4777.
Contact: Jonathan S. Wolfson of Solazyme, +1-650-780-4777.
Solazyme
CONTACT: Jonathan S. Wolfson of Solazyme, +1-650-780-4777
Web site: http://www.solazyme.com/
