Merge Talks Between The EVERY Co and Onego Bio
The EVERY Co and Onego Bio were discussing a potential $400m merger before negotiations broke down.
According to court documents, the two companies, which specialize in alternative egg products, were in talks to create a new company with a valuation of $400m.
Intellectual Property Dispute
The dispute centers on a patent covering the production of ovalbumin, a protein found in egg whites, via precision fermentation.
- The EVERY Co uses yeast (Komagataella phaffii) as its host microorganism.
- Onego Bio uses fungus (Trichoderma reesei).
The IP at issue covers the production of ovalbumin, the primary protein in egg white, via precision fermentation.
The EVERY Co has urged a court in Wisconsin to dismiss a lawsuit from Onego Bio seeking to invalidate one of its patents.
Author's summary: Merger talks between The EVERY Co and Onego Bio failed due to IP disputes.