Zymergen, which is developing biomanufacturing technologies for materials and chemicals, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Zymergen designs, develops, and commercializes bio-based breakthrough products for a broad range of industries. The company calls its process "biofacturing," and states that it creates better products faster, cheaper, and more sustainably than traditional chemistry by engineering microbes to make novel biomolecules that are the key ingredients in those products. The company currently has four products which consists of electronic films and insect repellents, and it estimate the timelines and costs of launching its future products to be roughly five years and $50 million.
The Emeryville, CA-based company was founded in 2013 and booked $13 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol ZY. Zymergen filed confidentially on January 25, 2021. J.P. Morgan, Goldman Sachs, BofA Securities, Cowen, UBS Investment Bank and Lazard Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
