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Evolva to Acquire R&D Partner Abunda
Posted: April 5, 2011
Evolva Holding SA (Reinach, Switzerland), which announced a partnership earlier this year with IFF, has also announced plans to acquire its R&D partner, San Francisco-based Abunda Nutrition, Inc. Under the terms of the proposed merger, Evolva will acquire 100% of the share capital of Abunda in return for 25 million Evolva shares. The terms of the transaction have been approved by the boards of both companies, but the transaction is still subject to approval of the required capital increase by Evolva’s shareholders. The transaction is expected to close in late Q2 or early Q3 2011.
The companies have collaborated on the development of Abunda’s nutritional ingredients since 2009, creating key components of the sweetener Stevia via fermentation in yeast, and in addition to Stevia, Evolva will obtain full ownership of other additional development-stage compounds with relevance in cardiovascular health and other nutrition sectors.