Swiss cosmetic active ingredient maker Mibelle Biochemistry has completed an asset deal with Mirexus Biotechnologies, a Canadian company that makes plant-derived glycogen (phytoglycogen) for use in personal care products.
The deal means Mibelle has acquired IP rights to produce Mirexus products including PhytoSpherix, EnerZea, Adveen and Susttain.
The Ontario company’s products are now fully integrated in the Mibelle portfolio and are available for purchase immediately.
Mibelle said the asset deal strengthens its active ingredient portfolio and enhances its position as a developer and manufacturer of unique, high-quality active ingredients for the cosmetic and nutraceutical industry.
The new assets also drive Mibelle Biochemistry’s sustainable innovation efforts by further aligning the portfolio with the rising demand for natural and sustainable ingredients, it added.
“I am very excited about this asset deal, as we had been looking around for quite a while to find a perfect target, matching our philosophy ‘Inspired by Nature – Realized by Science’ and similarly fitting smoothly into our existing product portfolio,“ said managing director Cornelia Schürch. “PhytoSpherix is finally fulfilling both requirements.”
Phil Whiting, president and CEO of Mirexus Biotechnologies, added: “The deep knowledge and capabilities of Mibelle will enable the growth of this technology beyond what Mirexus could do on its own.
“We look forward to seeing the continued expansion of our technology under Mibelle’s experienced leadership.”
Further financial terms relating to the transaction were not disclosed.