Verdezyne inks $48 mln, formalizes funding in ceremony attended by President Obama

Verdezyne, an industrial biotech firm in Carlsbad, Calif., has secured $48 million in funding. Malaysian multinational conglomerate Sime Darby Berhad led the round with participation from BP Alternative Energy Ventures, DSM Venturing B.V., OVP Venture Partners and Monitor Ventures. The funding was made official Monday in a ceremony in Malaysia attended by President Barack Obama and Malaysian Prime Minister Dato' Sri Najib Razak.

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