Imperial Innovations Group plc (AIM: IVO, "Innovations", "the Group") announces the sale of its shares in Alkion Biopharma (‘Alkion’ or ‘the Company’) to Evonik Industries. Commercial terms have not been disclosed.
Alkion is a life sciences company that aims to identify, validate and manufacture novel plant-based compounds for use in several life sciences-based industries. These activities are facilitated by a portfolio of patented technology. The Company also holds expertise in the production of undifferentiated plant cells and differentiated biomass, compound identification and cryopreservation and has developed a strong portfolio of active ingredients.
Evonik Industries is a leading specialist chemical company operating is several fields such as nutrition, resource efficiency and performance materials. Evonik will retain the right to any IP relating to Alkion for use in personal care products.
Alkion is an Imperial College London spinout co-founded by Innovations in 2011 and based on the work of Prof Peter Nixon and Dr Franck Michoux (Biochemistry). Dr Michoux has remained the Company’s CEO since its founding.
Innovations’ equity in Alkion derives from early commercial support provided to the founders by Innovations’ Technology Transfer Office, as well as from licensing the founding IP.
Govind Pindoria, Co.Create Director at Imperial Innovations, said:
“Alkion has developed a unique set of technologies that allow it to sustainably produce and purify valuable materials from plant biomass. The Company has positioned itself with a unique offering to several life sciences-based industries and we are pleased to note the acquisition by Evonik.”