Draths Corporation
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| Private | |
| ISIN | 🆔 |
| Industry | Manufacturing bio-based chemicals |
| Founded 📆 | 2006 |
| Founders 👔 | Dr. John Frost & Dr. Karen Frost |
| Headquarters 🏙️ | , , |
Area served 🗺️ | |
| Owner | Amyris |
| Members | |
Number of employees | |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
Draths Corporation was an American chemical company known for manufacturing bio based materials for use in everyday products via environmentally friendly and economical processes.[1] The technology platform enabled the manufacturing of products that are identical to intermediates used to make nylons, plastics, and a host of other materials. Draths was acquired by Amyris in October 2011.[2]
History[edit]
Draths Corporation was founded in 2006 by US scientists, Dr. John Frost and Dr. Karen Frost with the headquaters located in Lansing, Michgan.[3]
Draths received $1 million financing in 2006 from founding investor Brad Greenspan because the spread of Avian flu continued to be a worldwide concern.[4][5] Funding would go toward ten Michigan State University U.S. patents including the patent to synthetically manufacture Shikimic Acid (3,4,5-trihydroxy-1-cyclohexane) found in star anise, which is the key building block for the synthesis of Tamiflu and for developing new anti-influenza drug candidates.[6]
Aquisition[edit]
Draths was acquired for just $7 million dollars according to a 2011 SEC filing.[7] After raising$ 27 million from investors CMEA Ventures, TPG Capital and Khosla Ventures — also investors in Amyris for the process it developed to produce nylon and polyester fibres.[7][8][9]
Amyris, was a competitor likely interested in intellectual property including Draths numerous patents related to synthetic nylon and polyester fibres production. The Lansing Journal, said Draths laid off most of its employees in advance of the sale to Amyris.[2]
See also[edit]
References[edit]
- ↑ Mike Verespej,"Draths sold, relocating". plasticsnews.com. 24 October 2021. Retrieved 20 November 2022.
- ↑ 2.0 2.1 Lindsay Riddell,"Amyris buys chemicals-maker Draths". bizjournals.com. 16 November 2011. Retrieved 20 November 2022.
- ↑ "Presidential Green Chemistry Challenge: 1998 Academic Award (Draths and Frost)". epa.gov. Retrieved 20 November 2022.
- ↑ "$1 Million in Funding Provided for Avian Flu Drug Development and Green Biotechnology". hartenergy.com. Retrieved 20 November 2022.
- ↑ "Greenspan Makes Angel Investment In Michigan". socaltech.com. 19 April 2006. Retrieved 20 November 2022.
- ↑ "Draths Corp. Building 30,000 Sq Ft Delhi Township Space, Expects to Hire 200". secondwavemedia.com. 26 August 2009. Retrieved 20 November 2022.
- ↑ 7.0 7.1 Katherine Grayson,"Maker of 'green' nylon raising $21M in VC funds". bizjournals.com. 26 April 2009. Retrieved 20 November 2022.
- ↑ Eric Wesoff,"Khosla, TPG, and CMEA-Funded Greenchem Firm Draths Sold to Amyris". greentechmedia.com. 15 November 2011. Retrieved 20 November 2022.
- ↑ Alexander Haislip,"Rennovia raises $12 million for chemical production". reuters.com. Retrieved 20 November 2022.
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