Evonik Industries Submits Bid For METEX Methionine Technology Platform
11/4/2016 9:37:28 AM
- Evonik to strengthen its biotechnology platform
- Binding bid for METEX fermentation methionine technology
- Both parties agreed to exclusivity and aim for a timely conclusion of the agreement
Amino acids produced by fermentation are an important pillar of Evonik’s product portfolio for sustainable animal nutrition. The production processes for Biolys® (lysine), ThreAMINO® (threonine) and TrypAMINO® (tryptophane) have been made continuously more efficient over the past years and the portfolio was just recently enlarged by launching ValAMINO® (valine). In order to strengthen its biotechnology platform Evonik intends the acquisition of a large technology package from the French company METabolic EXplorer (METEX) and has submitted a binding offer on October 27th. The bid is subject to approval by Evonik committees.
METEX, which is headquartered in Clermont-Ferrand (France), has succeeded in developing a fermentation process for manufacturing methionine. The binding Evonik offer includes the takeover of METEX’s entire methionine technology as well as patents, essential bacteria strains, and the inoLaTM brand. These are to be transferred to Evonik after closing.
The transaction also includes a license agreement for the continued use of base technology by METEX. The companies also intend to explore the possibility of a research cooperation on the technological development of biotechnologically produced amino acids.
The companies are planning a timely conclusion of the agreement and have agreed to exclusivity and not to disclose any information on the next steps until the agreement has been signed.
Founded in 1999 the biotechnology company METabolic EXplorer specializes in the development of biotechnology production processes for bio-based substances that are used in a wide variety of daily everyday products such as textile fibers and feed additives.
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