METabolic EXplorer has sold its technology for the fermentative production of methionine to Evonik
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Evonik has acquired a technology package from METEX to strengthen its biotechnology platform for amino acids. The package includes METEX’s entire technology portfolio for the fermentative production of methionine, as well as patents, essential bacteria strains and the inoLa™ brand. L-methionine is the world’s second most widely sold amino acid and is notably used in feed for chickens and piglets.
METabolic EXplorer (“METEX”) is a biological chemistry company founded in 1999. METEX specializes in developing manufacturing bioprocesses for bio-based compounds used in a wide range of everyday products, including textile fibers, animal feed supplements and resins. Based on the tried and tested principle of industrial fermentation, METabolic EXplorer’s solutions replace today’s petrochemical processes through the use of a wide range of plant-based raw materials.
METEX has built particularly strong capabilities in genetic engineering of microorganisms, fermentation and enzymology. METEX is now focusing its competencies on the production of two molecules, 1,3 Propanediol (PDO) and Monopropyleneglycol (MPG). Based in Clermont-Ferrand, France, METEX operates 4,200 sq.m of infrastructure, employs 70 persons and is listed on Euronext in Paris (Compartment C, METEX).
METEX considers that this agreement will emphasize the relevance of METEX’s alternative technologies and will strengthen its ability to commercialize its other technologies. The transaction also includes a back license agreement pertaining to certain patents to be transferred to Evonik; this agreement will allow METEX to continue using these patents for activities other than those related to methionine. Furthermore, the companies intend to explore the possibility of a research and development cooperation agreement on the development of biotechnologically produced amino acids.
Benjamin Gonzalez, METEX CEO, declared, “We have been able to show that the fermentation process for manufacturing methionine is a potential alternative to familiar manufacturing routes. For all of the company’s stakeholders, this is a validation of our technical leadership. Proceeds from the sale will accelerate our ability to further develop and market our other technologies such as PDO, MPG or new high value added molecules.”
Lincoln acted as the exclusive sell-side advisor to METEX throughout the sale process.
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