Verdezyne Raises $10.6M More

Carlsbad-based Verdezyne, which is developing biotechnology used for biofuels production and chemicals manufacturing, has raised $10.6M in a new, debt funding round, according to a filing from the firm last week. Details on the funding have not been announced by the company. The filing indicates that Monitor Ventures, OVP Venture Partners, BP Alternative Energy Ltd., and DSM Venturing B.V. all continue to hold seats on the company's board of directors. Other investors in Verdezyne are the the Life Science Angels, Seraphim Fund, and the Tech Coast Angels. The funding, and lack of a new board director in the regulatory filing, might indicate the round is a convertible bridge funding to a future round. Verdezyne was previously known as CODA Genomics. More information »