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.
According to court documents, the dispute centers on whether Onego is infringing a “foundational” patent from The EVERY Co covering ovalbumin expression in a range of hosts.
- The EVERY Co uses yeast (Komagataella phaffii) as its host microorganism.
- Onego Bio uses fungus (Trichoderma reesei).
The EVERY Co has urged a court in Wisconsin to toss a lawsuit from Onego Bio seeking to invalidate one of EVERY's patents.
Author's summary: Merger talks between The EVERY Co and Onego Bio failed.