August 9, 2013

OPXBIO starts funding round

It has been more than a year since the blog had the pleasure of again chatting with OPX Biotechnologies (OPXBIO) CEO Charles Eggert. Last Tuesday, Eggert mentioned that the company has started this month their plans to raise their fourth round of funding through private equity financing from new and old strategic and [or] financial investors.

OPXBIO is expecting to raise around $35m for the D round funding, and according to Eggert, current investors have indicated that they will continue to support OPXBIO with additional funding.

Eggert admitted that it is not that easy these days to get funding compared to their last C round in September 2011 when several companies in the renewable chemicals space have been successful in their IPOs. OPXBIO was able to raise $41m back then.
"Raising funding back then was easier as there was a lot of optimism in the space. Clearly since then, there had been some challenges with pricing for publicly sold stocks lower than what they were during their IPOs. That always put a bit of a damper on the enthusiasm even for private investment space. However, we are confident with this round as OPXBIO is in very good shape coupled with the fact that we have a set of strong current investors who continues to support the company." - Eggert
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