Monday, January 10, 2011

Synthetic Genomics Brings Funding Up To $35.0M

La Jolla-based Synthetic Genomics, a developer of genomics technology for the biofuels industry, has now raised $35M of its ongoing $50M funding round, according to a recent regulatory filing from the company. Synthetic Genomics is backed by ExxonMobil, Draper Fisher Jurvetson, Meteor Group, Biotechonomy LLC and Plenus, S.A., BP plc, and ACGT Sdn Bd. The firm is headed by J. Craig Venter, the inventor of DNA sequencing. The firm is currently focused on using genetics technology to modify microalgae and cyanobacteria to more efficiently convert carbon dioxide into cellular oils and long-chain hydrocarbons, for use in the biofuels and chemicals industry. ExxonMobil and Synthetic Genomics have said that ExxonMobil is investing up to $300M in the firm around their joint efforts. More information »

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