Amryis Files with SEC to Raise $121 Million in IPO

Amyris, a developer of microbial technologies for producing biofuels and medicines, has filed an amendment to its registration with the Securities and Exchange Commission for an initial public offering of stock, indicating that it intends to sell about 5.3 million shares and raise an estimated $121 million in the deal.

In April, the company indicated in an SEC filing that it intended to raise an estimated $100 million.

Founded in 2003 and based in Emeryville, Calif., Amyris initially developed its technology under a non-profit initiative to provide a reliable and affordable source of artemisinin, which is an anti-malarial drug.

The company has developed genetic engineering and screening technologies that modify the way microbes process sugar, turning them into “living factories, or biorefineries.” It is now applying its industrial synthetic biology platform to provide alternatives to a range of petroleum-sourced products.

Amyris is focusing on Brazilian sugarcane as its primary biofuel feedstock. Its subsidiaries include Amyris Brasil, a majority-owned Brasilian company through which it conducts Brasilian operations for the manufacture and trade of products, and Amyris Fuels, a wholly-owned subsidiary through which it is building U.S. fuels distribution capabilities.

Amyris has raised a total of around $244 million in venture capital and employs about 200 people.

Via : smartenergynews.net