Under the terms of the agreement, Evonik will gain the entire technology portfolio as well as patents, bacteria strains, and the brand name inoLa. Transfer is expected by mid-December 2016. METEX retains the right to use certain patents for activities outside of methionine production. The two companies have also agreed to collaborate on the development of amino acids via biotechnology processes.
“We have been able to show that the fermentation process for manufacturing methionine is a potential alternative to familiar manufacturing routes,” says Benjamin Gonzalez, CEO of METEX. The company will use the proceeds to advance other technologies in its pipeline, which include monopropylene glycol and 1,3-propanediol.
Fermentation-based amino acids are a major product for Evonik’s animal nutrition portfolio. The company also produces the amino acids lysine, threonine, tryptophane, and valine.