Allylix

Based in San Diego, California, Allylix is a biotechnology company that utilizes metabolic engineering and yeast fermentation to manufacture high-value terpene products for the flavor, fragrance, and cosmetics industries. The enterprise scales the industrial production of specialty chemicals, such as nootkatone and valencene, providing a highly stable and cost-effective alternative to traditional agricultural plant extraction methods. Prior to its strategic exit, the business secured approximately $33 million in total venture capital funding, which included an $18.2 million financing round led by BASF Venture Capital with participation from Tate and Lyle Ventures. In December 2014, the Swiss biotechnology firm Evolva acquired the company in an all-stock transaction valued at $20 million, a deal supported by a concurrent $4 million equity investment from Cargill. Allylix was originally founded in 2004 by scientists Joe Chappell and Noel Noel.