eXoZymes appoints new chief commercial officer

MONROVIA, CA - eXoZymes Inc. (NASDAQ: EXOZ), a company specializing in AI-engineered enzymes for sustainable biomanufacturing with a market capitalization of $101.5 million, has announced the appointment of Damien Perriman as its Chief Commercial Officer (CCO). According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 8.12, indicating robust short-term financial stability. Perriman, with over 20 years of experience in the biotechnology industry, has held commercial roles at Genomatica and Gevo and served as Chairman of the Board for Cellugy.

The company, founded in 2019, has developed a platform that uses AI and bioengineering to produce chemical compounds through natural processes. eXoZymes’ technology aims to replace traditional chemical production with sustainable and scalable biosolutions.

Perriman’s role will focus on developing commercial opportunities, including spin-outs, joint ventures, and licensing agreements. The company’s CEO, Michael Heltzen, highlighted Perriman’s diverse capabilities and experience as key to eXoZymes’ strategic goals in scaling and commercializing biosolutions. The appointment comes as the company’s stock has experienced significant volatility, with InvestingPro showing a 15.5% decline in the past week, though maintaining a 23% gain over the past year.

A conference call is scheduled for today at 4:30 PM Eastern, where participants can inquire further about the new appointment. The call will be accessible via eXoZymes’ investor relations website, with a recording available shortly after.

eXoZymes’ approach to biomanufacturing, termed "exozymes," represents a significant shift in the synthetic biology industry by eliminating scaling bottlenecks and enabling faster, less capital-intensive commercialization of bioproducts.

The company’s forward-looking statements involve assumptions and expectations about future strategies and performance, and they caution readers to consider the risks and uncertainties that could cause actual results to differ. These statements are based on the company’s current plans and are not guarantees of future performance. InvestingPro analysis indicates the company currently faces profitability challenges, with a negative EBITDA of $5.66 million in the last twelve months. Subscribers can access 5 additional ProTips and comprehensive financial metrics to better understand eXoZymes’ investment potential.

This news is based on a press release statement from eXoZymes Inc.

In other recent news, eXoZymes Inc., formerly known as Invizyne Technologies, announced a rebranding initiative that includes a new ticker symbol, EXOZ, expected to start trading on February 12, 2025. This change reflects the company’s strategic focus on enzyme-based biomanufacturing systems. As part of this transition, eXoZymes will update its corporate website and branding materials. In addition to the rebranding, eXoZymes has made significant leadership changes. Mohammad Hayat has resigned from his roles as a member of the Board of Directors, President, and Chairman of the Board. Edgardo Rayo has been appointed to the Board of Directors, and Christopher A. Marlett has taken over as the new Chairman of the Board. These developments are part of eXoZymes’ ongoing efforts to steer the company’s strategic direction and operational management. Investors and stakeholders will be observing how these changes impact the company’s market position and overall performance.

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