Genomatica under new ownership
Biotech company Geno, formerly known as Genomatica, has been acquired by Again, also specialising in biotechnologies, notably to convert flue gases and CO2 into chemicals.
Combined, the two companies operate six facilities and cover the full biotechnology supply chain from discovery and modification of bacteria to industrial-scale production. The new group also has a diversified business model, said Again. It encompasses co-developing production pathways, selling products from existing and upcoming assets and licensing its technologies.
Geno has a strong track record of developing biobased chemicals via fermentation. These include bio-BDO (1.4-butanediol), a component of elastane, and a technology that both Hyosung and The Lycra Company have chosen to use to produce their bio-derived elastane yarns. Geno has also successfully scaled the production of caprolactam, to make a biobased polyamide 6,notably with Aquafil, and hexamethylenediamine (HMDA), used in the production of polyamide 6.6.
Both firms are privately held and venture backed. San Diego-based Geno was founded in 1998 has raised some $400 million, its revenues are estimated to be in the order of $60 million. Copenhagen-based Again was founded in 2020and is said to have raised in the order of $100 million across several funding rounds.
