Invizyne Technologies, which is developing a biomanufacturing platform for a diverse range of chemicals, filed on Friday with the SEC to raise up to $17 million in an initial public offering.
The Monrovia, CA-based company plans to raise $17 million by offering 4.3 million shares at $4. At the proposed price, Invizyne Technologies would command a fully diluted market value of $71 million.
Invizyne believes its biomanufacturing platform, SimplePath, will be a significant alternative to the current methods of chemical compound production, which are generally chemical synthesis, natural extraction, and synthetic biology. The platform should enable the efficient production of a diverse range of chemicals, including pharmaceuticals, fuels, materials, food additives, and novel compounds. The company has not generated any revenues to date.
The Monrovia, CA-based company was founded in 2019 and plans to list on the Nasdaq under the symbol IZTC. Public Ventures is the sole bookrunner on the deal.
