OmegaTech Completes $22 Million Financing

OmegaTech Completes $22 Million Financing

BOULDER, Colo.--OmegaTech Inc. (www.omegadha.com),based here, has completed a $22 million private placement of common stock; the deal wascoordinated with the Bay City Capital bank in San Francisco. According to Rich Green,chief financial officer (CFO) with OmegaTech, the investment will allow the company tocontinue its research on essential fatty acids (EFA), particularly DHA. "We have adynamic range of bioactive lipids in the R&D pipeline and intend to use the proceedsfrom this round to rapidly introduce new products to an increasingly health-consciousglobal marketplace," he said. OmegaTech markets bioactive lipids for use infunctional foods, infant and early childhood nutrition products and dietary supplements.