Solazyme Inc., a South San Francisco, Calif.-based developer of biofuels through the use of microalgae, raised $197.55 million in its IPO. The company priced nearly 10.98 million common shares at $18 per share, compared to plans to offer 9.98 million shares at between $15 and $17 per share. It has an initial market cap of around $1.04 billion, and will trade on the Nasdaq under ticker symbol SZYM. Morgan Stanley and Goldman Sachs served as co-lead underwriters. Solazyme had raised over $128 million in VC funding, from Roda Group, Braemar Energy Partners, Morgan Stanley, Lightspeed Venture Partners, Harris and Harris Group, VantagePoint Venture Partners, Zygote Ventures, CTTV Investments and San-Ei Gen. www.solazyme.com