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Allylix Raises $1 Million Venture Capital Debt

Friday, November 18, 2011 5:30:00 AM PDT | VentureDeal Staff

   San Diego, California  --  Biotechnology company Allylix has secured $1 million in venture capital debt financing, according to an SEC regulatory filing.

Allylix is developing technology that allows it to produce terpenes at low cost.

Terpenes have anti-fungal and anti-viral properties as well as flavors, fragrances and insect repellent capabilities.

Investors in the financing were not disclosed, nor was how the company intends to use the funding proceeds.

Allylix is still seeking $1.6 million in additional financing, according to the filing.

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