Research Triangle Park-based Athenix, which develops novel genetic solutions to create renewable resources for the agricultural and petrochemical industries, has reportedly closed on $10 million in new funding.
According to WRAL's Local Tech Wire, PEHub reported the deal, citing a regulatory filing. Intersouth Partners in Durham, an existing Athenix investor, participated in the round along with Hunt Ventures and Polaris Venture Partners.
Athenix, a North Carolina State University spinout that got early help in a $150,000 loan from the North Carolina Biotechnology Center, develops transgenic plants that resist chemicals and pests. Earlier this year Syngenta contracted with the firm to explore potential products for corn and soybeans.
Athenix, which moved into new RTP headquarters last year, closed on a $13 million financing round in 2006. Two years previously, Athenix raised $12.5 million in round of financing that drew more interest from investors than planned. The firm launched in 2001 and raised its first round of financing totaling $8 million that year.