21st.BIO was acquired by Novo Holdings for €86 million.

21st.BIO, a Copenhagen, Denmark-based biotech manufacturing startup, announced getting into an agreement for being acquired by Novo Holdings.

The deal was made for €86 million ($97.2M) for a major equity control in the company.

Søren Møller, managing partner of Novo Seeds, Novo Holdings, will join the board of directors.

21st.BIO was founded in 2020 by CEO Thomas G. Schmidt and developed a platform that aims to help bio-industrial companies in the food, materials and agricultural industries scale up from molecular innovation to large-scale production to both meet market demand and promote the green transition. The focus areas of 21st.BIO include producing proteins and peptides that can be utilized for the food, materials and agricultural industries.

The technology platform of 21st.BIO originates from selected parts of the Novozymes platform, which has been developed over the past 40 years.

Novozymes provides a co-exclusive licence to 21st.BIO within certain boundaries of applications, ensuring Novozymes’ ability to continue its leadership position in the areas where Novozymes operates.

21st.BIO currently operates in Denmark and California.