Croda Buys Canadian Marine Biotech Firm
UK specialty chemicals company Croda has acquired Nautilus Biosciences Canada, a marine biotechnology company based in Charlottetown, Prince Edward Island, Canada. Financial terms were not disclosed.
Nautilus is focused on using marine microbial biodiversity to discover novel actives and materials. The two companies have worked closely together for the past six years developing applications for skin care, hair care and crop care.
Steve Foots, Croda’s CEO, said the acquisition expanded its expertise in marine biotechnology, also known as “blue biotechnology,” and is another clear example of how sustainable innovation was underpinning the company’s growth plans. He commented: “We will be able to bring new, patented products to market, alongside our already well-known green and white biotechnology ingredients, giving us the full spectrum of capabilities within this field of science.”
Croda intends to establish Nautilus as a key R&D center – the Croda Center of Innovation for Marine Biotechnology – at the Canadian company’s base at the University of Prince Edward Island. The East Yorkshire-headquartered group said this location is ideal for biotech research, having already attracted and facilitated partnerships with many other biotechnology companies. In addition, Nautilus, which has a team of more than 30 research staff, has exclusive global access to the university’s marine microbial library.
The acquisition follows Croda’s €24 million purchase of IonPhasE last month. Headquartered in Tampere, Finland, IonPhasE supplies anti-static additives for protecting electrical components.
Maarten Heybroek, president, performance technologies at Croda, said IonPhasE represented a significant opportunity for Croda as it operated in a niche, high-value sector of the polymer market. “This acquisition supports our growth strategy within high technology, consumer-driven material markets. We are delighted that IonPhasE is bringing its industry leading knowledge in the rapidly growing market for electrostatic discharge protection to Croda.”
