Metabolix, Inc. announced that the Company is exploring strategic alternatives for its specialty biopolymers business and for its Yield10 crop science program. The Company cited outside strategic interest in its biopolymers business as well as a challenging financing environment as key considerations leading to this development. Strategic alternatives may include selling the Company's specialty biopolymers business to a third party with strategic interest in acquiring the business, and either refocusing the Company's resources on development and commercialization of Yield10 Bioscience or potentially selling the Yield10 business as well.
Metabolix is currently engaged in discussions with interested parties regarding the potential sale of the specialty biopolymers business as an operating business and may engage in discussions with additional parties as it progresses through its strategic review. In addition, the Company has been working on the potential "spin out" of Yield10 Bioscience for the past several months and is currently gauging interest among agriculture industry players and venture investors for the potential sale of Yield10 as an alternative to continuing to develop the crop science business internally. There are numerous risks and uncertainties associated with the Company's exploration of strategic alternatives and there can be no assurance that these efforts will be successful.