News & Press
OPX Biotechnologies Named Company of the Year By The University of Colorado
Award Recognizes Successful Bio-Based Chemical Company Using Technology from University
BOULDER, Colo. – January 18, 2012 – OPX Biotechnologies Inc. (OPXBIO) has been named Company of the Year in biosciences by the University of Colorado's Technology Transfer Office (TTO). The award was presented during a ceremony in Denver on Tuesday, Jan. 17. The TTO's awards program recognizes companies founded on technologies licensed from the university.
OPXBIO's proprietary technology platform – EDGE™ (Efficiency Directed Genome Engineering) – incorporates a first-of-its-kind genome optimization technology that was invented at CU-Boulder by Dr. Michael Lynch, then a graduate student working with Associate Professor Dr. Ryan Gill. Lynch and Gill founded OPXBIO, where Lynch now serves as Chief Scientific Officer, in 2007. The company has grown to employ 60 scientists and engineers, many of whom received their technical education at CU.
Boulder-based OPXBIO, which also was named the "Breakout Cleantech Company" in 2011 by the Colorado Cleantech Industry Association, uses its EDGE technology to manufacture bio-based chemicals and fuels that are more economical and renewable than the petroleum-based products they replace. Working with its strategic partner, The Dow Chemical Company, OPXBIO is commercializing its first product - bio-based acrylic acid - for use in consumer products such as diapers, detergents, paints, and adhesives.
"OPXBIO is a great CU success story because its core technology is truly unique in the biotech industry, and has the potential to change the way bio-chemicals are produced and used in the real world," said David Allen, associate vice president for technology transfer at CU. "When an emerging company creates a partnership with one of the largest chemical companies in the world, it speaks volumes about this technology's potential."
"We're truly honored to receive this award from the University of Colorado because the school has played such an important role in OPXBIO's success," said Charles (Chas) Eggert, CEO of OPXBIO. "At OPXBIO, we are all about 'good chemistry,' and this applies to our technology as well as our team and our partnership with the University of Colorado."
About OPXBIO
OPXBIO uses its proprietary leading EDGE™ (Efficiency Directed Genome Engineering) technology to manufacture renewable bio-based chemicals and fuels that are lower cost, higher return, and more sustainable than existing petro-based products. With unprecedented speed and capital efficiency, in just 18 months OPXBIO has developed and piloted the microbe and bioprocess that will produce its first renewable chemical product - BioAcrylic - at lower cost than petro-acrylic with a 75% reduction in greenhouse gas emissions. The company's second product is diesel fuel bio-processed from carbon dioxide and hydrogen. OPXBIO has raised $64 million with venture investors Altira Group, Braemar Energy Ventures, DBL Investors, Mohr Davidow Ventures, US Renewables Group, Wolfenson Capital Partners, and X/Seed Capital. For more information, visit http://www.opxbio.com, and follow OPXBIO on Twitter.
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