Verdezyne raises $3M for organism-made biofuels

Verdezyne, a company that develops special microorganisms used to produce biofuels and biochemicals, has brought in $3 million of an expected $15.2 million round of equity, according to a filing with the SEC. Based in Carlsbad, Calif., the company is backed by Life Science Angels, Monitor Ventures, OVP Venture Partners and Tech Coast Angels. It also received a $1.7 million grant from the National Institute of Allergy and Infectious Diseases.