SAN DIEGO—Allylix Inc. raised $6 million in the first closing of its Series C financing. The money will allow the company to commercialize its first products for the fragrance industry, and allow it to advance several additional products in its pipeline.
The biotechnology firm’s metabolic engineering platform enables low-cost production of high-value terpene products through yeast fermentation. The technology is protected by 28 patents, with additional applications pending. Using its platform, the company is able to develop products quickly with only a small incremental investment in each new product. Further, the platform is applicable to a wide range of products across a number of industries, including not only fragrances but pharmaceuticals, too. In 2008, the company licensed its technology for use in specific biofuels products.
This year, Allylix will introduce nootkatone, a long-lasting citrus fragrance used in the personal care industry, which has until now been available only in limited quantities and at high prices.