Merge Talks Between The EVERY Co and Onego Bio
Alt-egg startups The EVERY Company and Onego Bio were discussing a merger to create a new company with a valuation of $400m before talks fell apart.
According to court documents, the dispute between the two companies centers on a patent covering the production of ovalbumin, the primary protein in egg white, 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 EVERY Co has urged a court in Wisconsin to toss a lawsuit from Onego Bio seeking to invalidate one of EVERY's patents.
Author's summary: Merger talks between The EVERY Co and Onego Bio failed.