Imperial Innovations Group plc has announced the sale of its shares in Alkion Biopharma to Evonik Industries.

Alkion is an Imperial College London spinout co-founded by Professor Peter Nixon, Dr Franck Michoux (both Biochemistry, Department of Life Sciences) and Imperial Innovations in 2011. The company has developed technologies that allow it to sustainably produce and purify materials from plant biomass. This has a wide range of potential applications, such as enabling production of naturally occurring pharmacologically active compounds that are found in rare plants without endangering the species.

Alkion aims to identify, validate and manufacture novel plant-based compounds for use in several life sciences-based industries and these activities are facilitated by a portfolio of patented technology. The Company also holds expertise in the production of undifferentiated plant cells and differentiated biomass, compound identification and cryopreservation and has developed a strong portfolio of active ingredients.

Evonik Industries is a leading specialist chemical company operating in several fields such as nutrition, resource efficiency and performance materials. .

Govind Pindoria, Co.Create Director 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.”

Text sourced from the press release, which can be viewed on the Imperial Innovations website.