Imperial Innovations Group has sold its interest in Alkion Biopharma to Evonik. Evonik concluded a purchase agreement to take over the French start-up back in April.
“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,” commented Govind Pindoria, Co.Create Director at Imperial Innovations.
Commercial terms of the deal were not disclosed, however, it was announced that Evonik will retain the right to any IP relating to Alkion for use in personal care products.