BASF Backs Biotech Flavors Firm Allylix

BASF Venture Capital has invested $13.5 million in Allylix, a biotechnology firm that makes renewable specialty chemicals for the flavor and fragrance industry. BASF says its investment will allow it to broaden its use of renewable raw materials and that Allylix fits with its efforts in the aroma, cosmetic chemicals, and nutrition markets. The funding was part of an $18.2 million financing round that also involved existing investors, including Tate & Lyle Ventures. Allylix will use the money to commercialize products in its pipeline, the first of these being epi-β-vetivone. Trademarked Epivone, the chemical is a terpene structurally related to a key component of vetiver oil, an essential oil with a rich, woody aroma.