CARLSBAD, Calif. (May 10)—Yulex Corp., the Carlsbad-based guayule development firm, has completed its series B round of financing totaling $4.5 million, according to a company release.
The money is being used to expand the pilot guayule processing plant Yulex opened last year in Maricopa, Ariz.; hire scientists and technical personnel; and produce more prototype guayule latex products, according to Yulex President Jeffrey Martin.
Founded in 1997, Yulex holds the U.S. Department of Agriculture's exclusive license to commercialize products made with guayule, a shrub native to the deserts in Mexico and the southwestern U.S. The USDA has demonstrated in field trials that guayule latex is hypoallergenic, giving it potential as the main material in products such as catheters, dental dams, condoms and medical gloves.