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Biotech Zymetis Inc Bags $757K in Offering - CBL
By Citybizlist Staff
COLLEGE PARK -- According to a Reg D filing with the U.S. Securities and Exchange Commission, biotechnology company Zymetis Inc raised $757,464 out of a total equity offering of $765,000.
Last July Zymetis and the University of Maryland, College Park received a grant of $117,373 from the Maryland Industrial Partnerships Program (MIPS) to research "Pentose fermenting strain of brewer's yeast." The company's most recent work has focused on developing next-generation transportation fuels. Zymetis is housed at the University of Maryland's Technology Advancement Program (TAP) building in College Park.
According to the filing, approximately $132,000 of the proceeds will be used as payments to company executives.
Named in the filing were executives Steven W. Hutcheson, Promoter; Scott Laughlin, CEO; and Steven W. Davey. Hutcheson and Laughlin were also listed as Directors, along with Ralph L. Hutcheson.
About Zymetis (from the company's Web site):
Zymetis, Inc. is a biotechnology company dedicated to developing novel enzyme products for the emerging bio-refining industry. Derived from unique organisms, Zymetis products are designed to achieve lower costs, improved yields and higher manufacturing efficiencies in the conversion of cellulosic biomass to usable sugars. Currently, Zymetis is focused on the production of affordable next-generation transportation fuels. Zymetis was formed in 2006 to commercialize technologies discovered by Dr. Steve Hutcheson, professor of cell biology and molecular genetics, and Dr. Ron Weiner, Professor Emeritus, from the University of Maryland. Dr. Hutcheson made the decision to lead the company through its early days and began by licensing several patents and patents-pending from the University. Zymetis participated in the University's VentureAccelerator spin-out program and located in the Technology Advancement Program (TAP) building on the University's College Park campus. TAP is a leading venture incubator that partners with regional entrepreneurs to build early-stage companies. At this location, Zymetis has access to dedicated lab facilities for all necessary technology development and a talented pool of recent graduates and student interns seeking to transition to the industrial world. Today, Zymetis has a growing full time staff of research scientists and bio-process engineers working to develop and refine the company's initial product offerings. Find more information about Zymetis at http://www.zymetis.com/
Reg D filing: http://tinyurl.com/yasr69l
Also at Citybizlist, see:
Mtech's MIPS Program Announces 22 Research Projects, Worth $3.6 Million
Governor O'Malley, UM Scientists Announce New Energy Technology
Posted Jan 11, 2010
