Allylix raises $18.2M, announces launch of new product for fragrance market
LEXINGTON, Ky. (March 12, 2012) — Allylix Inc., which has its R&D lab at Coldstream Research Campus, recently received a $13.5 million investment from BASF Venture Capital. The BASF subsidiary led a $18.2 million financing round, joined by existing investors Tate & Lyle Ventures, Avrio Ventures and Cultivian Ventures.
The company also announced the development and upcoming commercialization of Epivone™ (epi-beta-vetivone), a rare and highly valuable terpene that will initially be commercialized for use in fragrance applications.
Allylix uses proprietary yeast-based fermentation technology developed by the UK College of Agriculture and the Salk Institute for Biological Sciences to produce a group of natural products called terpenes for flavors and fragrances in greater quantities, of higher quality, and at significantly lower cost than traditional sources. The company’s newest product, Epivone™, has never been commercially available because it cannot be produced synthetically in a cost effective manner.