OPXBIO Achieves Key Production Milestone for BioAcrylic

BOULDER, Colo., March 27, 2012 /PRNewswire/ -- OPX Biotechnologies Inc. (OPXBIO) today announced another milestone that is a major step toward commercializing its more-economical and renewable alternative to petroleum-based acrylic acid. The company successfully demonstrated its fermentation process for bio-based acrylic acid (or BioAcrylic) at the 3,000-liter scale.

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OPXBIO is working with The Dow Chemical Company to bring BioAcrylic into the $10-billion market for acrylic used in products such as diapers, detergents, paints and adhesives.

"Scale-up milestones are big proof points in this industry," said Charles R. (Chas) Eggert, president and CEO of OPXBIO.  "We have increased the size of our BioAcrylic fermentations by more than 300 times with good results. This gives us even more confidence we're on the right track."

OPXBIO worked with the Michigan Biotechnology Institute (MBI) to successfully scale up its BioAcrylic fermentation process to 3,000 liters.

"Based on our 30 years of experience bringing lab innovations to commercialization, OPXBIO's rate of progress on BioAcrylic is impressive," said Bobby Bringi, president and CEO of MBI. "The successful campaign at 3,000-liter scale positions OPXBIO and its partners well to accelerate their commercialization efforts."

MBI is a not-for-profit company with 30 years of experience in derisking and scale-up of bio-based technologies. Its disciplined, streamlined approach demonstrates commercial viability in a cost- and time-effective manner. MBI's world-class pilot facility and experienced, multi-disciplinary professionals help its corporate and university partners bridge the gap between research and commercial applications.

About OPXBIO

OPXBIO is transforming the business of chemistry by using its proprietary leading EDGE™ (Efficiency Directed Genome Engineering) technology to manufacture renewable bio-based chemicals and fuels that are more economical and sustainable than petroleum-based products.  Founded in 2007, OPXBIO employs 60 people in Boulder Colorado and is funded by $64 million raised from venture investors Altira Group, Braemar Energy Ventures, DBL Investors, Mohr Davidow Ventures, US Renewables Group, Wolfensohn Capital Partners, and X/Seed Capital.

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

SOURCE OPX Biotechnologies Inc.