SOURCE: OPX Biotechnologies, Inc.

OPX Biotechnologies, Inc.

January 20, 2010 11:00 ET

OPXBIO Appoints Mike Rosenberg VP of Business Development

Will Create Strategic Partnerships to Commercialize Biochemicals and Biofuels

BOULDER, CO--(Marketwire - January 20, 2010) - OPX Biotechnologies Inc. (OPXBIO), a renewable biochemical and biofuel company, today announced the appointment of Michael J. Rosenberg as vice president of business development. Mike brings 24 years of alternative energy and environmental business experience to OPXBIO where he is responsible for creating strategic partnerships to accelerate the commercialization of bio-based chemistry and fuel products.

"We are delighted that Mike has joined the OPXBIO team," said Charles R. (Chas) Eggert, president and CEO of OPXBIO. "OPXBIO has proven potential to deliver bio-based products with lower cost and improved sustainability compared to petroleum-based alternatives. Mike's depth of experience and expertise in business and corporate development, coupled with his industry relationships will accelerate our efforts to commercialize our first product."

"I am excited to be joining OPXBIO at such a critical time in its development," said Mike Rosenberg, vice president of business development at OPXBIO. "We have cutting edge technology to develop commercially viable bio-based chemicals and are ready to take it to market. I look forward to working with the OPXBIO team and leading our efforts to develop strategic partnerships."

Prior to OPXBIO, Mike was vice president of business development at Evergreen Energy, a cleaner coal technology company. From 1998 to 2008, he held senior management positions at the leading hydrogen fuel cell company, Ballard Power Systems, including director - corporate development and strategy, director - business development, and business director - material handling. While at Ballard, he helped form Chrysalix Energy Limited Partnership, a leading venture capital firm in the cleantech industry. Prior to Ballard, Mike was senior treasury manager with Genentech, Inc., and held various positions in finance, environmental project management and engineering with McKesson Corporation and ExxonMobil Company USA. Mike earned an MBA degree from the Haas School of Business at the University of California, Berkeley, and he holds a B.S. degree in chemical and petroleum refining engineering from the Colorado School of Mines.


OPXBIO is a Colorado-based company using biotechnology to convert renewable raw materials into biochemicals and biofuels. Applying its EDGE™ (Efficiency Directed Genome Engineering) technology, OPXBIO will manufacture bio-based products that are more economical and sustainable than petroleum-based alternatives. OPXBIO has already demonstrated laboratory-scale production of several different biochemicals and biofuels using renewable biomass as well as carbon dioxide and hydrogen feedstock. The company currently is producing bioacrylic at pilot scale in advance of opening a demonstration plant in 2011 and a full-scale commercial plant in 2013. The company also is developing strategic partnerships and joint ventures for commercialization. OPXBIO has raised $22.4 million with venture investors Mohr Davidow Ventures, Braemar Energy Ventures, Altira Group, and X/Seed Capital.

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