Novozymes acquires Iogen Bio-Products $67.5 million

Novozymes acquires Iogen Bio-Products for $67.5 million

4:55 AM, 2nd February 2013
Novozymes acquires Iogen Bio-Products for $67.5 million

BAGSVAERD, DENMARK: Novozymes acquires Iogen Bio-Products, the industrial enzyme business of Ottawa-based Iogen Corporation for $67.5 million and potential earn-out payments of up to $12.5 million. The deal provides Novozymes with all commercial rights to Iogen Bio-Products’ existing product portfolio, pipeline, facilities and know-how.

Novozymes acquires all of Iogen Corporation’s industrial enzyme business. The acquisition does not include the purchase of assets that relate to Iogen Corporation’s bioenergy process technologies. Closing of the acquisition is anticipated late February 2013, awaiting finalization of corporate formalities.

“Iogen Bio-Products is a good fit for 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,” said Andrew Fordyce, Vice President, Global Enzyme Sales and Customer Solutions, Novozymes.

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