Genomatica Drops IPO Plans, Raises $41.5M

San Diego-based renewable chemicals developer Genomatica has dropped its IPO plans, according to a regulatory filing by the company this morning. The firm, which had filed for a $100M IPO in August of 2011, said in a withdrawal of its registration, that it has determined not to proceed with its IPO, "in light of current market conditions." Genomatica is venture backed by TPG biotechnology Partners, Mohr Davidow Ventures, VantagePoint Venture Partners, Alloy Ventures, Draper Fisher Jurvetson, WM Organic Growth and others. The firm announced that instead, the company has raised $41.5M from its backers, in a Series D funding round which included Versalis, Alloy Ventures, Draper Fisher Jurvetson, Mohr Davidow Ventures, TPG Biotech, VantagePoint Capital Partners and Waste Management. More information »