Evonik Industries Selects OPX Biotechnologies for Joint Development of Bio-Based Chemicals

BOULDER, Colo. and ESSEN, Germany, May, 14 2013 /PRNewswire/ -- OPX Biotechnologies, Inc. (OPXBIO) and Evonik Industries AG today announced the two companies have entered into an agreement to jointly develop certain bio-based specialty chemicals. The joint-development agreement signed May 3rd 2013 calls for OPXBIO to use its proprietary EDGE™ (Efficiency Directed Genome Engineering) technology to develop the bio-processes.

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"There's a growing market demand for more sustainable products and processes, and OPXBIO is an excellent partner to help us meet that demand because their technology can create high-value, bio-based chemicals quickly and cost-effectively," said Dr. Thomas Haas, Vice President Science-to-Business Center Biotechnology of Creavis, the strategic research and development unit of Evonik.

"Evonik is a leading global specialty chemicals company, and we're looking forward to helping them expand their portfolio of bio-based chemicals," said Charles R. (Chas) Eggert, OPXBIO president and CEO. "The bio-process we're developing has the potential to create economic and sustainable versions of products we use in our everyday lives." According to the agreement, OPXBIO will also be able to market bio-based products resulting from the Evonik collaboration.

About OPXBIO

OPX Biotechnologies (OPXBIO) is a leader in sustainably transforming the business of chemistry. As the "Good Chemistry" company, OPXBIO provides more sustainable value to customers by applying its proprietary EDGE ™ (Efficiency Directed Genome Engineering) technology to produce economic, bio-based chemicals that directly replace existing petroleum-based products. OPXBIO's EDGE is versatile and enables faster, more efficient development of bioprocesses using a variety of feedstocks. Founded in 2007, OPXBIO is financed by leading venture capital investors, and employs 65 people in Boulder, Colo.

For more information, visit www.opxbio.com and follow OPXBIO on Twitter.

About Evonik

Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik's corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms.

Evonik is active in over 100 countries around the world. In fiscal 2012 more than 33,000 employees generated sales of around €13.6 billion and an operating profit (adjusted EBITDA) of about €2.6 billion.

Disclaimer

In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.

SOURCE OPX Biotechnologies Inc.