Allylix secures $6 mil. in venture capital
This article was originally published in The Rose Sheet
Executive Summary
San Diego, Calif.-based biotech firm has raised $6 mil. in Series C financing to commercialize grapefruit-derived nootkatone and other products for food and fragrance applications. Funding validates Allylix's technology platform - which "enables low-cost production of high-value terpene products through yeast fermentation" - and commercial viability, says CEO Carolyn Fritz. Nootkatone is currently produced through grapefruit peel extractions, creating a "long-lasting" citrus flavor used in fruit juices and sodas. Allylix plans to implement a more cost-efficient production process and expand applications of nootkatone to a broader range of products, including fragrances and pharmaceuticals, according to its Web site. Allylix says it expects another Series C financing round to be completed in 60 days
You may also be interested in...
P&G Teams With Firm To Turn Microbes Into Functional Ingredient "Factories"
Procter & Gamble and Emeryville, Calif.-based Amyris Inc. have entered into a collaborative agreement to leverage the biotech firm's genetically engineered yeast in the development of personal-care ingredients
Biden Administration Is Setting An Example For Safe AI Use In Federal Organizations
A new memorandum by the Director of the Office of Management and Budget initiated a government-wide policy that will appoint AI officers to all agencies to address risks for AI use and serve as an example for greater AI adoption.
US FDA Drugs Center Ready To Break Down Silos On Regulatory Innovation
CDER Director Cavazzoni is promising to increase coordination and collaboration to accelerate broader adoption of innovative clinical trial designs and other approaches to speed drug development. A new "Quantitative Medicine Center of Excellence" illustrates the approach.