Novozymes acquired Iogen Bio-Products, the industrial enzyme business of Ottawa, Ontario-based Iogen for $67.3 million. The agreement gives Novozymes all commercial rights to Iogen Bio-Products’ existing product portfolio, pipeline, facilities, and expertise. The deal does not include the purchase of assets that relate to Iogen’s bioenergy process technologies.

Iogen Bio-Products, which entered the industrial enzyme industry in 1991, produces and sells enzymes for the pulp & paper, textile, grain-processing, and animal feed industries. The company has close to 70 employees and sells more than 20 products globally.

“Iogen Bio-Products is a good fit for Novozymes,” explained Andrew Fordyce, vp of global enzyme sales and customer solutions at Novozymes. “We get a number of products that complement our existing product portfolio and welcome a talented group of employees who are very good at developing and producing industrial enzymes.”

Novozymes, which began its business in 1925, markets over 700 biotech products in 130 countries.

Previous articleRecord Revenues for Thermo Despite “Challenging Environment”
Next articleTeva Parts Ways with CureTech, Takes $109M Hit