Merge Talks Between The EVERY Co and Onego Bio
The EVERY Co and Onego Bio were discussing a potential merger valued at $400m before negotiations broke down.
According to court documents, the two companies, which specialize in alternative egg products, were in talks to create a new company before Onego Bio sued its rival.
Patent Dispute
The lawsuit, filed by Onego Bio, seeks to invalidate one of The EVERY Co's patents related to the production of ovalbumin, a protein found in egg whites, via precision fermentation.
- The EVERY Co uses yeast (Komagataella phaffii) as its host microorganism.
- Onego Bio uses fungus (Trichoderma reesei).
The dispute centers on whether Onego is infringing a “foundational” patent from The EVERY Co covering ovalbumin expression in a range of hosts.
The EVERY Co has urged a court in Wisconsin to dismiss the lawsuit.
Author's summary: The EVERY Co and Onego Bio's merger talks failed.
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