NEW YORK (GenomeWeb News) - OPX Biotechnologies has received $3.6 million in its second round of venture financing, which was led by Mohr Davidow Ventures.
Other investors in the round included X/Seed Capital, which provided OPX’s seed financing in June 2007, and Robert Chess, who has been named OPX CEO and chairman.
Boulder, Colo.-based OPX is developing genomics technologies designed for microbial biofuel development.
OPX’s set of tools and intellectual property, called SCALEs, enable massively parallel full genome search, identification of specific causative genes, and rapid genetic modification and testing, the company said. These tools are used to design new microbes that would improve tolerance, productivity, and specificity for fuel and chemicals production.
Chess said the SCALEs technology can “identify the role of each gene and how to modify it to achieve the characteristics needed for specific fuel and chemical products 1,000 to 5,000 times faster than conventional methods.”