Iogen Corporation is a biotechnology company developing technologies to make cellulosic biofuels from agricultural residues and organic waste products that is headquartered in Ottawa, Ontario and was founded in 1975 by Patrick Foody Sr.. According to the company's website, Iogen Corporation has invested more than $500 million into the research, development, and presentation of their technologies and products, and holds more than 300 issued and pending patents.
On January 31, 2013 Novozymes announced it will acquire the industrial enzyme subsidiary of Iogen Corporation called Iogen Bio-Products for C$67.5 million. The purchase gave Novozymes all commercial rights to the product portfolio, product pipeline, production facilities, and knowledge of Iogen Bio-Products. However, the purchase did not give Novoenzymes any technology associated with Iogen Corporations biofuel business.
The CEO of Iogen Corporation made the following comments to reporters regarding the sale of Iogen Bio-Products to Novozymes:
We at Iogen are proud of having built a globally competitive enzymes business. We are pleased that Novozymes will continue to develop the business, creating new opportunities for our employees and new solutions for our customers. Iogen Corporation will now concentrate its efforts on developing commercial opportunities for second generation and advanced biofuels around the world and, in particular, on our program with Raizen to develop a commercial cellulosic ethanol project in Brazil.
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