Novonesis has signed an agreement to acquire MicroBioGen, an Australian biotechnology company specialising in yeast strains for industrial applications, particularly bioethanol. The deal builds on Novonesis' 2013 investment in MicroBioGen and its current 23% stake, strengthening a decade-long collaboration. CEO Ester Baiget said the acquisition aligns with the company's 2030 strategy, strengthening yeast and R&D capabilities whilst reflecting disciplined investment focus. Novonesis invests approximately 10% of annual sales in innovation. MicroBioGen CEO Geoffrey Bell described Novonesis as "a strong fit" for the company and its employees after more than a decade of close collaboration. The transaction terms remain undisclosed. Completion is subject to customary regulatory approvals, including from Australia's competition regulator, the ACCC.

Novonesis to acquire remaining share of MicroBioGen to strengthen yeast capabilities. COPENHAGEN, Denmark, August 10 - Novonesis has signed an agreement with the intent to acquire MicroBioGen, an Australian biotechnology company with leading scientific expertise in yeast strains for industrial applications, particularly in bioethanol. The acquisition builds on Novonesis' 2013 investment in MicroBioGen and its current 23% stake, further strengthening a decade-long collaboration in advanced yeast solutions for bioethanol production. Ester Baiget, CEO: "This acquisition marks an additional step in our 2030 strategy. It strengthens our yeast capabilities, strengthens our R&D capabilities, and reflects our disciplined investment focus to drive growth." Building on deep scientific expertise As a pure-play biology company, Novonesis combines deep scientific expertise in microbiology and industrial fermentation with approximately 10% of annual sales investment in innovation. The acquisition of MicroBioGen builds on this foundation, strengthening core expertise in biological solutions. "We see MicroBioGen as a perfect match building on more than a decade of close collaboration, and we look forward to integrating their technology into Novonesis. With the acquisition, we will continue to strengthen our capabilities and develop the biosolutions our customers need," said Claus Crone Fuglsang, Chief Scientific Officer, Novonesis. As part of the agreement, Novonesis will continue to support MicroBioGen's existing partners and ensure continuity in its collaborations. Geoffrey Bell, CEO and Co-founder of MicroBioGen, said: "Joining Novonesis is a strong fit for MicroBioGen and its employees. After more than a decade of close collaboration, we could not think of a better home for the company." The terms of the transaction will not be disclosed, and completion of the transaction is subject to customary regulatory approvals, including by the ACCC (Australia's national competition, consumer, fair trading and product safety regulator). About MicroBioGen MicroBioGen is an Australian based biotechnology company with global success in improving the industrial capabilities of yeast. With a platform technology and library of elite yeast genetics, developed over 20 years, MicroBioGen delivers 'Yeast Innovation as a Service' to industry leaders globally. Demonstrated through MicroBioGen's bioethanol partnership with Novonesis and co-developing the Innova(R) yeast series which delivers exceptional industrial performance, MicroBioGen is a leading collaborator for yeast biotechnology, with opportunities in existing and emerging industries, ranging from optimising yeast for baking, sustainable feed and energy to food applications. Get in touch Media relations Benjamin Hjorth Senior Press Manager [email protected]+45 30 77 13 12 Legal Disclaimer: EIN Presswire provides this news content "as is" without warranty of any kind. Africa Finance Today do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.

TurtleTree, a California-based biotech startup producing animal-free lactoferrin, has secured undisclosed funding from Novonesis and Mitsui Chemicals. Existing investor Steve Melhuish also participated. The startup will use the capital to accelerate commercialisation, improve manufacturing efficiency, and expand globally. Founded in Singapore in 2019, TurtleTree later expanded to the US and obtained FDA licensing to sell its ingredient. Lactoferrin, a rare milk protein benefiting gut health, immunity, and iron regulation, trades at $800 per kilogram. The company produces IronKind, a vegan dietary supplement, and supplies lactoferrin to other brands. Novonesis will support manufacturing and market entry, whilst Mitsui Chemicals will assist with Japanese market expansion. TurtleTree previously raised $30 million in series A funding in November 2021.