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Business

Novozymes will acquire GroPep

August 21, 2006 | APPEARED IN VOLUME 84, ISSUE 34

Novozymes has agreed to acquire the Australian biotechnology company GroPep for almost $65 million. GroPep manufactures Long R3 IGF-1, a growth factor supplement used to produce vaccines, monoclonal antibodies, and other recombinant proteins in mammalian cell-based manufacturing systems that don't use animal serum as a cell nutrient source. GroPep had sales last year of $12.7 million, almost all from Long R3 IGF-1.

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