Matrix Genetics Gets Funding From Biofuel Efforts

Seattle-based Matrix Genetics, a biotechnology firm aimed at producing both renewable fuels and specialty chemicals from algae, said today that it has scored a funding round. The round came from Avista Development, the Spokane-based venture arm of energy company Avista Corp. Financial details of the investment were not announced. The funding will go to spin Matrix Genetics out of Targeted Growth, the Seattle-based agricultural biotechnology company. Matrix Genetics is being headed up by Margaret McCormick. More information »