Chromatin Raises $12.4 Million in Series C Financing
CHICAGO, Dec 03, 2008 -- Chromatin, Inc., today announced that it has completed a Series C financing round of $12.4 million, led by Quantitative Financial Strategies, Inc. ("Quant") (Greenwich, CT), and joined by the Malaysian Life Sciences Capital Fund ("MLSCF") and Chromatin's existing investors Burrill & Company, Venture Investors, Unilever Technology Ventures, Foragen Technology Ventures, and Illinois Ventures.
Chromatin has developed, protected and commercialized mini-chromosome technology -- an innovation that makes it possible to introduce multiple genes (gene stacks) simultaneously into any plant cell. "With this financing round, Chromatin will leverage the success of its gene stacking capability to aggressively enter the bioenergy feedstock market," said Dr. Daphne Preuss, Chromatin's CEO and co-founder.
Chromatin previously announced partnerships with leading agricultural companies to advance mini-chromosome applications in crops such as corn and soybeans. This investment will support the development of proprietary feedstocks that contain the gene stacks needed to improve yields and reduce the costs of producing fermentable sugars. The company plans to launch strategic partnerships with industry leaders to provide distribution channels for its bioenergy products.
"Chromatin's technologies and products will address needs in multiple global markets. I look forward to the Company's success," said Dr. Sanford Grossman of Quant, who has joined Chromatin's Board of Directors.
"We welcome Quant and MLSCF as investors in Chromatin," said John Hamer, Chairman of Chromatin's Board of Directors, a Managing Director of Burrill and Company, and a Director of MLSCF. "I am encouraged by Chromatin's progress in developing its technology and in attracting significant interest from leading companies in the agriculture and bioenergy sectors."
Chromatin previously raised $12 million in equity financing. The company's core mini-chromosome technology allows rapid improvement of crops and feedstocks for agriculture and bioenergy markets, accelerating product pipelines, reducing production costs, and enabling novel plant-based products. For more information please visit: www.chromatininc.com.