Invizyne Technologies, which is developing a biomanufacturing platform for a diverse range of chemicals, raised $15 million by offering 1.9 million shares at $8, as expected.
Invizyne believes its biomanufacturing platform, SimplePath, will be a significant alternative to the current methods of chemical compound production, which are generally chemical synthesis, natural extraction, and synthetic biology. The platform should enable the efficient production of a diverse range of chemicals, including pharmaceuticals, fuels, materials, food additives, and novel compounds. The company has not generated any revenues to date.
Invizyne Technologies plans to list on the Nasdaq under the symbol IZTC. MDB Capital Group acted as sole bookrunner on the deal.
