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.
Onego Bio is now suing its rival, seeking to invalidate one of EVERY's patents, which covers the production of ovalbumin via precision fermentation with engineered microbes.
- 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 (‘784) from The EVERY Co covering ovalbumin expression in a range of hosts.
The EVERY Co has urged a court in Wisconsin to toss the lawsuit.
Author's summary: Merger talks between The EVERY Co and Onego Bio failed.
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