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Lygos Acquires Librede to Accelerate Cannabinoid Production for Consumer, Nutraceutical and Pharmaceutical Products
Combined technologies will accelerate development, scaling and commercialization of a sustainable, fermentation-based production platform
January 15, 2020 08:00 AM Eastern Standard Time
BERKELEY, Calif.--(BUSINESS WIRE)--Lygos, Inc., a full-stack provider of sustainable specialty chemicals that deliver high-value performance without environmental toxicity, today announced the acquisition of Librede, Inc., an emerging synthetic biology company focused on cannabinoid products for the consumer market. The combined proprietary technology platforms enable Lygos to accelerate the development of high-quality, sustainable and rare cannabinoids and rapidly commercialize new innovative cannabinoid-based consumer, nutraceutical and pharmaceutical products. Financial terms of the transaction were not disclosed.
Founded in 2009 by leading scientists in the Department of Bioengineering at the University of California, Los Angeles, Librede uses synthetic biology tools to develop new technologies that can solve problems in both the pharmaceutical and consumer space. Since 2014, Librede has focused on the research and development of cannabinoids. With the support of numerous grants from the National Institutes of Health, Librede developed a proprietary yeast-based production process that can produce specific cannabinoids of commercial or research interest.“Librede has led the way in creating the next generation of technologies that will drive the future of the cannabinoid industry. Our leading non-plant-based platform enables low-cost production of a wide range of valuable compounds that are not easily accessible through agricultural means,” said Jason Poulos, PhD, CEO of Librede. “Joining forces with Lygos enables us to now automate the strain screening and development processes, scale production and bring these valuable cannabinoid ingredients and consumer products to the market much faster than before.”Founded in 2011 by leading scientists in the Department of Bioengineering at the University of California, Berkeley, Lygos has developed proprietary technology for producing diverse compounds through fermentation. The company features a robust pipeline of multi-functional organic acids that offer compelling performance, economic and environmental advantages over petrochemistry processes or other toxic industrial ingredients.“The Carbon Sequestration Superhighway™ technology we’ve developed initially for our flagship Bio-Malonic™ products is the key route to many valuable organic acids, including cannabinoids,” said Eric Steen, PhD, CEO of Lygos. “Librede's leading cannabinoid technology and team of highly qualified bioengineers and scientists are highly complementary to our operations. We believe we can integrate quickly, produce rare cannabinoids in commercial quantities and launch sustainable consumer cosmetic products later this year. We can also now provide lead compounds for nutraceutical and pharmaceutical programs. The new product programs will generate revenues prior to breaking ground on our first large-scale Bio-Malonic Acid manufacturing facility, which is planned for the 2022-2023 time frame.”About LibredeLibrede is a multi-interdisciplinary natural product company that utilizes the tools of synthetic biology and chemistry to produce high-value natural products. Building on a core, patented, yeast-based platform, Librede’s main focus is the discovery, development and industrial-scale production of natural cannabinoids.About LygosLygos has created a full-stack biological engineering platform focused on organic acid specialty chemicals and bio-monomers. Lygos’ sustainable, bio-based chemicals replace expensive, environmentally degrading alternatives from traditional industrial suppliers, enabling customers to create better, safer products with value-added performance. For more information, visit www.lygos.com and follow us @LygosBiotech.Lygos, the Lygos logo, Bio-Malonic, and Carbon Sequestration Superhighway are trademarks of Lygos, Inc. All other brands may be trademarks of their respective holders.
