OPX Biotechnologies Completes $17.5 Million Financing Round

New Funds to Drive Biofuels and Green Chemistry Process Demonstration

BOULDER, Colo.--(Business Wire)--
OPX Biotechnologies Inc., a bioproducts company, today announced the final
closing of its B-round financing, raising $17.5 million to fund biofuels and
green chemistry process development and demonstration. Braemar Energy Ventures
led the financing. New OPX investor Altira Group LLC and earlier round
participants MDV - Mohr Davidow Ventures and X/Seed Capital Management joined
Braemar in this round.

"Completing this round of funding is an important milestone for our company,"
OPX Biotechnologies President and CEO Charles R. (Chas) Eggert said. "In a very
challenging financing environment, our investors recognized the power of the OPX
technology platform to deliver economical biofuels and green chemistry products.
We now have secured the resources to drive process demonstration and strategic
partnering as we accelerate toward commercialization. With Braemar and Altira
joining MDV and X/Seed, OPX is further strengthened by an investor team that is
providing added value to the company."

The proprietary OPX EDGE (Efficiency Directed Genome Engineering) technology
enables rapid and effective optimization of bioconversion processes to transform
renewable biomass feedstocks into fuels and green chemistry products at lower
cost than petroleum-based alternatives. "While oil will be an important energy
feedstock for years to come, OPX is catalyzing the most significant transition
in the $1 trillion fuels and chemicals market in the last 80 years - the
transition to economical and renewable feedstocks," said Erik Straser, OPX board
member and general partner at MDV.

"We have confidence in OPX`s technology and team," said William D. Lese,
managing director for Braemar Energy Ventures and recently appointed OPX
Biotechnologies board director. "The company`s value proposition of low
production costs for both renewable fuels and chemistry products is a major
differentiator in the marketplace."

"At Altira, we believe that global energy demand can be met through technical
innovation. OPX has developed transformational technology that will drive
efficiency in renewable fuels and chemicals making them commercially viable,"
said Jim Newell, a partner at Altira Group LLC who will also join the OPX board
of directors.

Based in Boulder, Colo., OPX was founded in 2007, employs 25 people today and
expects to double its team over the next year.

About OPX Biotechnologies, Inc.: OPX is a Colorado-based bioproducts company
using proprietary bioengineering technology to economically convert renewable
biomass feedstocks into fuels and green chemistry products. The company`s first
products are bioacrylic and biodiesel. The OPX EDGE (Efficiency Directed Genome
Engineering) technology platform enables rapid and highly effective optimization
of bioconversion processes to achieve low production costs. Using the EDGE
platform, OPX has produced multiple biofuel and green chemistry products at
laboratory scale from several different renewable feedstocks. OPX is now proving
its economical bioprocesses at larger scale in advance of a demonstration plant
startup in 2011.

Dr. Michael Lynch and Dr Ryan Gill co-founded OPX in 2007 based in-part on work
they conducted at the University of Colorado - Boulder. Dr. Lynch is now chief
scientific officer at OPX. Dr. Gill is an associate professor at the University
of Colorado and also serves as a board director and senior advisor at the
company.

For more information, visit opxbiotechnologies.com.

Cohn Marketing
Robin Lybarger, 303-839-1415 ext. 29
robin@cohnmarketing.com

Copyright Business Wire 2009