Business Roundup

Ineos has sold businesses that produce chlorotoluenes and additives to Valtris Specialty Chemicals, which is owned by the private equity firm H.I.G. Capital. The combined business employs about 250 people.

Ingevity will spend up to $20 million to expand output of extruded activated carbon pellets in Covington, Va. In May, the firm said it will spend up to $40 million to expand powdered activated carbon at the site by 20%.

Evonik Industries plans to begin its own production of guanidinoacetic acid, which is used to enhance livestock metabolism. Evonik says its current supplier, AlzChem, is ending a supply agreement on Dec. 31.

Chinova Bioworks, developer of a mushroom-based food preservative, has secured seed funding from investors co-led by DSM. The firm, which recently won third prize in a preservative contest (see page 14), says it will use the funding to scale up production.

Apeel Sciences has raised $70 million in a third round of venture funding to expand commercialization of a plant-based coating that extends produce shelf life. The California start-up has rolled out a coating for avocados and is testing its product on citrus.

Sarepta Therapeutics is expanding its gene therapy pipeline through a deal with Lacerta Therapeutics. Sarepta will take a $30 million stake in Lacerta, get exclusive rights to its gene therapy for Pompe disease, and take an option to license other gene therapies.

Regeneron has invested $100 million in Bluebird Bio. The investment is part of a pact in which the two firms will combine technologies to develop immune-cell therapies for cancer.

Artios Pharma has raised $84 million in series B funds. Backers include the venture funds of AbbVie, Novartis, and Pfizer. Artios is developing small molecules to inhibit proteins that repair damaged DNA in cancer cells.