CalCEF Clean Energy Angel Fund has sold Allopartis Biotechnologies to Danish bioinnovation company Novozymes A/S. No financial terms were disclosed. Based in San Francisco, Allopartis develops industrial and therapeutic proteins.
San Francisco, CA (PRWEB) October 10, 2013
CalCEF Clean Energy Angel Fund I, LP today announced the successful sale of its portfolio company Allopartis Biotechnologies Inc. to Novozymes A/S, for an undisclosed amount.
Allopartis Biotechnologies was founded in 2008 to screen for new and optimized enzymes for industrial use. CalCEF Angel Fund made its first investment in Allopartis in September 2008, along with XSeed Capital.
“We are extremely pleased to provide our limited partners with a positive return on the Fund’s investment in Allopartis,” stated Susan Preston, CalCEF Clean Energy Angel Fund’s General Partner “We always strongly believed in the team and the technology, and are gratified that the world leader in industrial biotechnology solutions has come to the same conclusion.”
Allopartis’ founding team has transitioned to the Novozymes A/S organization and remains located in the San Francisco Mission Bay Innovation Corridor, a world-class biotech research and development cluster. “The support provided by CalCEF Clean Energy Angel Fund was instrumental in the development and success of Allopartis. We are extremely excited to now carry that success forward within Novozymes,” said former Allopartis President, Dr. Robert Blazej.
“This is a great outcome for Allopartis and its investors in a very tough environment for cleantech companies. All credit to the team for building a platform with enduring value and to Novozymes for recognizing the advantages Allopartis will bring to its R&D efforts” remarked Michael Borrus, XSeed Capital General Partner.
“Novozymes looks forward to integrate and implement Allopartis’ promising evolution and screening methods into our efforts within the discovery of new and better enzymes. The three founders have demonstrated strong competencies during their built-up of Allopartis and we are pleased to welcome them to Novozymes” added Ejner Bech Jensen, Vice President, Research and Development, Novozymes.
Novozymes A/S, headquartered in Denmark, is the world leader in bioinnovation. Together with customers across a broad array of industries they create tomorrow’s industrial biosolutions, improving their customers’ business and the use of our planet’s resources. With over 700 products used in 130 countries, Novozymes’ bioinnovations improve industrial performance and safeguard the world’s resources by offering superior and sustainable solutions for tomorrow’s ever-changing marketplace. Novozymes is quoted on NASDAQ OMX Copenhagen a/s (nZyM b).
CalCEF Clean Energy Angel Fund I, LP is a seed and early-stage venture capital fund focusing entirely on emerging, transformative technology in the clean energy markets, including renewable energy, energy storage and energy efficiency materials and devices. More information can be found at http://www.calcefangelfund.com.