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Allylix Inc. Acquired by Swiss Company

Evolva Holding SA announced it has agreed to acquire San Diego-based Allylix Inc. in an all-stock transaction.

According to Evolva, it will acquire Allylix, a privately held yeast fermentation company with a focus on high-value ingredients, in return for an overall consideration of 46 million newly-issued Evolva shares. Cargill, Evolva’s partner on its stevia program, will invest $4 million in Evolva shares in support of the transaction. The transaction is expected to close by mid-December 2014.

The acquisition will immediately expand Evolva’s product and IP portfolio and enhance the competitiveness of Evolva’s stevia products, which aim to improve taste, affordability and supply of the zero-calorie sweetner, the company said.

Allylix’s technologies, strain development capabilities and fermentation know-how will enable Evolva to accelerate the development of various products, the company said.

“Since our founding in 2004, Allylix has established a world-class R&D team in yeast metabolic engineering, scaled our processes to full industrial production, and commercialized two products,” said Carolyn Fritz, Allylix’s CEO. “We have built a leading patent position on producing terpenes by fermentation, which has attracted interest from leading stevia players. We see Evolva and their partner Cargill as the best placed to achieve significant commercial success in fermentation-derived stevia.”

Allylix Inc. develops terpene products and their derivatives for the flavor and fragrance, food ingredient, pharmaceutical, agricultural and biofuel markets.

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