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.