Evonik submits bid for METEX methionine technology
The company is making the acquisition to strengthen its biotechnology platform
Evonik has submitted a binding offer to the acquire a large fermentation methionine technology package from METabolic EXplorer (METEX). The bid is subject to approval by company committees. Evonik is making the acquisition to strengthen its biotechnology platform. Amino acids produced by fermentation are an important pillar of Evonik’s product portfolio for sustainable animal nutrition.
Based in Clermont-Ferrand, France, METEX has succeeded in developing a fermentation process for manufacturing methionine. In addition to the methionine technology, Evonik will take over patents, essential bacteria strains, and the inoLa 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.