CANBERA (dpa-AFX) - Novozymes A/S (NSIS-B.CO), a manufacturer of industrial enzymes, functional proteins, and microorganisms, Monday announced that it has agreed to acquire the remaining shares of MicroBioGen, an Australian biotechnology company, with the intention of acquiring MicroBioGen.
The financial details of the transaction have not been divulged.
This acquisition builds on the company's 2013 investment in MicroBioGen.
Currently, Novonesis holds a 23 percent stake in the Australian biotech firm.
'As a pure-play biology company, Novonesis combines deep scientific expertise in microbiology and industrial fermentation with approximately 10% of annual sales investment in innovation. The acquisition of MicroBioGen builds on this foundation, strengthening core expertise in biological solutions.', the company said in a statement.
Currently, Novozymes shares are trading at DKK425.70, down 0.28% on the Copenhagen Stock Exchange.
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