Big money news last week came from Amyris Biotechnologies and Codexis.
Amyris finally filed with the SEC for an initial public offering (IPO) of $100m. The company's current R&D focuses on sugarcane-based chemicals especially farnesene, a molecule which can be used as a renewable chemical ingredient for consumer and industrial products and as a fuel.
"We believe that we will be able to enter certain specialty chemical markets with farnesene if we can attain at commercial production scale the 15% yield that we have achieved at two liter scale. We will continue to seek to improve our yield of farnesene and other molecules in order to enter additional markets profitably and improve our production economics." - AmyrisAmyris plans commercialize their products through contract manufacturing in 2011 and transition their production in their Brazilian joint venture company SMA Indústria Química S.A. with Sao Martinho in the second quarter of 2012.
As of December 31, the company's accumulated deficit amounts to $120.4 million. Amyris revenues mostly come from ethanol sale (via Amyris Fuels LLC), the delivery of collaborative research services and from government grants.
The company has yet to make a profit. Their 2009 sales revenue increased to $64.6m from $13.9m in 2008 but 2009 losses also went up from $42 million in 2008 to $64.4 million.
Codexis, meanwhile, announced that it is offering its 6m shares of IPO common stock for $13/share, which will be traded on NASDAQ. The synthetic biology company is developing biocatalysts (either enzymes or microbes) for use in producing advanced biofuels under a multi-year research and development collaboration with Shell, as well as biocatalysts for other bioindustrial markets, including carbon management, water treatment and chemicals.
More about Codexis in my previous Q&A post with president and CEO Alan Shaw. The company reported a 2009 revenue of $82.9m, up from the $52.5m posted in 2008. Net loss incurred by the company last year was $22.3m, down from the $45m level posted in 2008.