Lygos Receives $5M Investment from LG Technology Ventures
Summary
Lygos, Inc. , a Berkeley, CA-based biotechnology-based producer of specialty chemicals that deliver high-value performance without environmental toxicity, received a $5m investment from LG Technology Ventures, the investment arm of the South Korean conglomerate LG Group. Lygos has raised more than $41m in equity financing, and over $10m in non-equity government funding (US Departments of Energy and Agriculture and National Science Foundation) to date. The company intends tyo use the funds to extends its global reach. Led by Eric Steen, PhD, CEO, Lygos has developed a proprietary platform based on a high-throughput combination of computational modeling, microbe engineering and screening, combined with machine learning to identify and develop new bio-routes to chemicals. The company also develops new bio-routes to chemical functionalities available through biotechnology to expand the performance window in diverse materials systems.