Imperial Innovations exits its investment in Imperial College London spinout Alkion Biopharma, selling its shares to chemical company Evonik Industries.
Imperial Innovations, the commercialisation firm of Imperial College London, has sold its shares in Imperial spinout Alkion Biopharma to specialist chemical company Evonik Industries.
Financial details of the transaction have not been disclosed.
Alkion Biopharma develops technologies to sustainably produce materials from plant biomass. The materials can be used as pharmacologically active compounds in various applications in the life sciences sector.
Imperial Innovations incubated Alkion Biopharma in 2012 in its Co.Create program, which partners five to 10 academic teams per year to help to build companies around cutting-edge technology. Its shares in the company date from an investment early in the company’s life although details remain undisclosed.
Govind Pindoria, director of Co.Create 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.”
