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Glycos Biotechnologies, Inc., Closes Series A Round of $5.0 Million
led by Draper Fisher Jurvetson and DFJ Mercury

Company to use funds to commercialize innovative and cost-effective fermentation technologies to produce chemicals from low-cost, low-value carbon sources

HOUSTON – April 17, 2009 – Glycos Biotechnologies, Inc. (GlycosBio) announced that it closed its $5.0 million in Series A financing led by venture firms Draper Fisher Jurvetson (DFJ) and DFJ Mercury, leading investors in early-stage, clean technology companies. The proceeds from the Series A financing will be used to hire key technical and scientific talent and to further develop GlycosBio’s innovative and cost-effective fermentation technologies for commercial purposes.

GlycosBio is pioneering an innovative, sustainable and cost-efficient approach to chemical processes and products using microbes and fermentation technologies as an alternative to petrochemical-based manufacturing. GlycosBio’s core technology for glycerin conversion was originally developed at Rice University in Professor Ramon Gonzalez’s Chemical and Biomolecular Engineering Lab. This new technology is focused on converting low-value, low-purity carbon sources – such as crude glycerol and other non-food feedstocks – into high quality, non-petroleum sourced chemicals that can be used in existing processes and infrastructure.

GlycosBio’s technologies will bolster economics of the ethanol and biodiesel industries by upgrading their glycerin-rich co-products to a variety of chemical intermediates.  The company’s technologies allow biofuel and chemical companies to make a strong first step towards a biorefinery business model by leveraging existing infrastructure and process streams to increase process efficiencies and improve profits.

“We were highly impressed with both GlycosBio’s pedigree and technology,” said Dan Watkins, managing director at DFJ Mercury. “We believe their microbial technologies opens up whole new markets by using low-value, low-purity feedstocks to create sustainable and cost-efficient chemical products and processes. Controlling costs and ensuring price stability for those industries dependent upon chemicals and chemical processes is the elusive holy grail for many companies today.”

In connection with this transaction, DFJ Mercury’s Dan Watkins will serve on the GlycosBio board of directors along with Steve Jurvetson of Draper Fisher Jurvetson.  Mr. Richard Cilento will join the board as Chairman.

“We are very pleased to have received financing from such prestigious and credible sources as DFJ and DFJ Mercury,” said Walter S. Burnap, CFO of GlycosBio. “By creating technologies that rely on microbes to create chemicals, we can untether chemical manufacturing from the volatile petroleum market. Not only can we offer price stability and overall cost savings, but we are doing it in a sustainable way that is good for the environment. We believe what we are doing will truly transform the biodiesel and ethanol industries by providing new revenue opportunities for existing facilities.”

About DFJ

Draper Fisher Jurvetson (”DFJ”) backs extraordinary entrepreneurs anywhere who set out to change the world.  DFJ achieves its mission through its DFJ Global Network of Partner Funds managing over $6B on four continents.    Since its founding in 1985, DFJ has been proud to back over 500 companies across many sectors including such industry changing successes such as Hotmail (acquired by MSFT), Baidu (BIDU), Skype (acquired by EBAY), United Online (UNTD), Overture (acquired by YHOO), Athenahealth (ATHN), EnerNOC (ENOC), TicketsNow (acquired by TicketMaster), Feedburner (acquired by Google), Interwoven (IWOV), Four11 (acquired by YHOO), Parametric (PMTC), and Digidesign (acquired by AVID).

About DFJ Mercury

DFJ Mercury is a seed and early-stage venture capital firm.  Headquartered in Houston, Texas, DFJ Mercury invests in compelling and novel start-up opportunities in the information technology, advanced materials and bioscience sectors.  DFJ Mercury seeks to partner with extraordinary entrepreneurs to build globally competitive businesses, focusing on investments emanating out of Texas and targeted regional tech clusters in the Mid- and Southwest.  Our team has extensive experience and strong relationships with technology transfer offices and appreciates hard science with solid intellectual property.  Our Firm has a particular focus on university spin-outs and incubation, often investing prior to a business plan or management team being formed.  DFJ Mercury is an active partner in the DFJ Global Network of venture capital funds.  For more information visit www.dfjmercury.com.

About Glycos Biotechnologies, Inc.

Glycos Biotechnologies, Inc., is a Houston-based technology company with deep roots at Rice University. GlycosBio is pioneering the metabolic engineering of microbial strains for the production of sustainable chemical intermediates and processes that will deliver lower costs and price stability to the chemical and biofuel industries. For more information, visit www.glycosbio.com.