By Kimberly N. Alleyne
Stroudsburg, Pa., Aug. 30. - Allylix Inc. announced Tuesday it has successfully secured $1.5 million in capital in series A funding.
The financing will be used to fund the development and scale-up of its first products.
The company also appointed Carolyn Fritz as its new chief executive officer.
"This funding is a major step towards the realization of our goal to bring these natural chemicals to market," Fritz said in a news release. "With this technology, we are able to provide vital compounds to our customers, thus enabling the development of products that would have otherwise been too costly."
Leading the series A funding is Bluegrass Angels. Also contributing to this round are California angel investors, the Commonwealth Seed Fund of Kentucky and the Kentucky Commercialization Fund.
Allylix, headquartered in Lexington, Ky., is a natural and fine chemical company focused on the development and commercialization of terpenes. The company has offices in San Diego.
| Issuer: | Allylix Inc.
|
| Issue: | Venture capital
|
| Round: | A
|
| Amount: | $1.5 million
|
| Investors: | Bluegrass Angels (lead), California angel investors, Commonwealth Seed Fund of Kentucky and the Kentucky Commercialization Fund.
|
| Announcement date: | Aug. 30
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
