Dow Forms New Independent Company, Pfenex

The Dow Chemical has formed a new independent company known as Pfenex through its Dow Venture Capital group. The new company, headquartered in San Diego, California, is based on human health applications of a Dow-developed technology called Pfenex expression technology, a Pseudomonas fluorescens-based platform that uses high throughput, parallel processing methodologies for optimised protein production.

The new Pfenex is a biotechnology company specialising in strain engineering and protein production, helping to accelerate the development of new biopharmaceutical therapeutics and vaccines that address critical human health issues from infectious diseases to oncology. Using a high throughput parallel processing, robotically enabled approach based on the bacterium Pseudomonas fluorescens, the platform produces high quality protein for discovery, research, development and commercial use.

Heinz Haller, executive vice president of performance systems at Dow, said: “We are very pleased to help establish Pfenex as an independent company that will accelerate further development of this valuable technology and help bring solutions to human health needs.

“As we are actively managing Dow’s business portfolio, we also are maximising value by applying the experience of Dow Venture Capital and its model for growing companies with game-changing technologies that have the potential for significant equity value.”

Dow’s contribution to Pfenex includes Pfenex expression technology for human health applications, protein production assets, customer contracts and lists, process technology, trademarks, certain intellectual property, and approximately 20 experienced employees.