USA :OmegaTech Raises $22 Million in Private Financing
Funds Will Support Expansion of Research and Development of Their Bioactive Lipid Products Including DHA GOLD(R) and Gold Circle Farms(TM) Brands OmegaTech, Inc., a bioscience innovator in the research and development of nutritional ingredients and foods, announced the completion of a $22 million private placement of common stock. The placement was coordinated with Bay City Capital, a private merchant bank based in San Francisco."The new institutional investors have strongly endorsed OmegaTech's technology, products and branding strategy," said OmegaTech CFO, Rich Green. "We have a dynamic range of bioactive lipids in the R&D pipeline and intend to use the proceeds from this round to rapidly introduce new products to an increasingly health-conscious global marketplace.""The diversity of experienced investors and the size of the European investment in this round reflect an international confidence in OmegaTech's business, its significant patent estate, and developing technologies," said John D. Diekman, Ph.D., and Managing Director of Bay City Capital.OmegaTech, Inc. is a leader in the research and development of bioactive lipid nutrients for use in functional foods, infant and early childhood nutrition products, pharmaceuticals, dietary supplements and animal health products. OmegaTech patented a natural, vegetarian source of the Omega-3 fatty acid, DHA. Most modern diets lack sufficient amounts of DHA, which is an important nutrient that is vital for good health. OmegaTech markets its DHA-enriched products internationally under its DHA GOLD and Gold Circle Farms brands.Bay City Capital invests in private and public companies, participates on corporate boards and provides strategic analysis and management advisory services. Bay City Capital's North American Nutrition and Agribusiness Fund and Glide's European Food and Agribusiness Fund, an affiliated fund, are major investors in OmegaTech.
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