Yulex Corporation, the world’s leading resource in manufacturing and marketing a safe, natural rubber latex for medical products, recently announced that it has closed an $8 million Series-C venture capital financing round led by Argonaut Private equity.
What does this mean in layman's terms? The company's total capital now sits at $12.5 million, with $4.5 raised during the first two rounds. This is not the only accomplishment that Yulex has under its belt. They also landed an exclusive distribution agreement with a leading international natural rubber latex distributor.
"This financing allows Yulex Corporation to expand its growing operations throughout the desert regions of the Southwestern United States, support distribution to international markets and accelerate product life cycles for select medical devices," says Jeff Martin, the company's president and chief executive officer.
Since 1998, there has been a significant increase seen in the number of deaths associated with patient sensitivity to natural latex proteins. Yulex provides the only commercially available natural latex that is safe for the estimated 18% of medical workers and almost 17 million people in the general population of the United States that exhibit Type I latex allergy symptoms.
Yulex, a privately-held company founded in 1997 and based in Carlsbad, is currently working with industrial strategic partners to develop technology to extract other specialty chemicals and biofuels from the desert plant Guayule. This plant is where the company's safe, natural, rubber latex is derived from.
What does this mean in layman's terms? The company's total capital now sits at $12.5 million, with $4.5 raised during the first two rounds. This is not the only accomplishment that Yulex has under its belt. They also landed an exclusive distribution agreement with a leading international natural rubber latex distributor.
"This financing allows Yulex Corporation to expand its growing operations throughout the desert regions of the Southwestern United States, support distribution to international markets and accelerate product life cycles for select medical devices," says Jeff Martin, the company's president and chief executive officer.
Since 1998, there has been a significant increase seen in the number of deaths associated with patient sensitivity to natural latex proteins. Yulex provides the only commercially available natural latex that is safe for the estimated 18% of medical workers and almost 17 million people in the general population of the United States that exhibit Type I latex allergy symptoms.
Yulex, a privately-held company founded in 1997 and based in Carlsbad, is currently working with industrial strategic partners to develop technology to extract other specialty chemicals and biofuels from the desert plant Guayule. This plant is where the company's safe, natural, rubber latex is derived from.