Merger 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.
Details of the talks were shared in an October 28 legal filing by The EVERY Co, which urged a court in Wisconsin to toss a lawsuit from Onego Bio seeking to invalidate one of EVERY's patents.
Intellectual Property Dispute
The IP at issue covers the production of ovalbumin, the primary protein in egg white, via precision fermentation.
- 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 from Onego Bio.
Author's summary: The EVERY Co is fighting a lawsuit from Onego Bio over a patent dispute.
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