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Synthetic Genomics Raises $35M in Ongoing Funding Round

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Synthetic Genomics has raised $35 million in private equity financing through an ongoing funding round expected to reach $50 million, according to a filing with the US Securities and Exchange Commission.

The privately held La Jolla, Calif.-based firm did not disclose its most recent investors, though the SEC filing states that there are six investors in the round so far. In 2006, the firm raised $30 million in series A financing from Draper Fisher Juvetson, Meteor Group, Biotechonomy, and Plenus. The company in 2007 closed a Series B round of financing with BP and ACGT.

The current round includes an investment from Life Technologies, which was disclosed last June. As part of that investment, Life Tech CEO Greg Lucier became a director at Synthetic Genomics.

In 2009 the company signed a partnership with ExxonMobil Research and Engineering that could be worth up to $300 million for Synthetic Genomics.

The company is developing several applications for genomic engineering, including new agricultural feedstocks, algae-based biofuel technologies, and tools for hydrocarbon conversion.

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