eXoZymes Inc., a biotechnology company specializing in enzyme engineering, announced today the closing of its previously announced $6 million public offering. The offering consisted of shares of common stock and warrants.
The company intends to use the net proceeds from the offering for working capital and general corporate purposes, including research and development activities. The offering was conducted by a single placement agent, though the company did not disclose the agent's name.
eXoZymes focuses on developing novel enzymes for industrial applications, including sustainable manufacturing and bioprocessing. The company's technology aims to replace traditional chemical processes with more environmentally friendly biological alternatives.
This capital raise comes as eXoZymes continues to advance its pipeline of enzyme products. The company has not provided specific timelines for commercialization or additional funding needs.
