IHS Chemical Week

EnviroTech :: Biotech

Evolva to Buy U.S. Sweeteners Developer Abunda

3:29 AM MDT | April 5, 2011 | Alex Scott

Evolva (Reinach, Switzerland), a synthetic biology company, says it has agreed to acquire its R&D partner Abunda Nutrition (San Francisco), a biotech firm involved in developing sweeteners and pharmaceuticals. Under the terms of the proposed merger, Evolva will acquire 100% of the share capital of Abunda in return for 25 million Evolva shares, equivalent to 12.9% of Evolva’s share capital post transaction, fully diluted. If certain value-creating milestones are achieved in the 19 months after closing, Abunda shareholders are entitled to receive up to an...

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