A roundup of exits, including IPOs and acquisitions, across the tech transfer ecosystem.
Allied Minds, the US-based commercialisation firm, has sold its residual shareholding in Canada-based dining house management software developer TouchBistro for C$5.5m ($4.4m). A total of $4m has been received by Allied Minds, while the remainder is to be held in escrow until the third quarter of the year. Allied Minds obtained a stake in TouchBistro when the latter acquired the former’s portfolio company TableUp, a US-based restaurant guest engagement platform, in August 2020.
Frugi Biotechnology, a US-based cell-free protein synthesis technology developer based on research at Iowa State University, was acquired by antibody therapies developer BigHat Biosciences for an undisclosed amount yesterday. BigHat plans to integrate Frugi’s technology into its artificial intelligence-powered drug discovery platform.
