CMEA Backs Symyx Spinout

Symyx Technologies,Inc. (Nasdaq: SMMX) has formed an independent company called Visyx Technologies to develop and pursue commercial applications of proprietary sensor technologies. CMEA Ventures has provided most of the spinout’s funding, while Symyx has contributed $400,000 and retained rights to apply the sensor technologies in certain pharmaceutical, chemical and refining applications. This is Symyx’s second VC-backed spinout, having formed Ilypsa Inc. in 2003.