Evonik Bids for Metabolic Explorer’s Methionine Assets

German specialty chemicals company Evonik has submitted a binding offer to acquire the methionine technology and other assets of French biochemistry company Metabolic Explorer. Financial details were not disclosed. The offer, submitted on Oct. 27, also includes patents, essential bacteria strains and the inoLa brand, an additive rich in l-methionine with secondary amino acids and organic acids for animal nutrition that was launched in April. These will be transferred to Evonik at the time the transaction completes.

The proposed deal also includes a back license agreement allowing Metabolic Explorer to continue using certain patents for activities other than those relating to methionine. The two companies will also explore a research and development cooperation for the manufacture of biotechnologically produced amino acids. A “timely conclusion” is planned for the transaction, which is subject to final approval from both company’s boards. Metabolic Explorer said its shareholders approved the sale of its methionine technology at a general meeting on Sept. 29 and discussions were initiated with several potential partners in the amino acids business.