The supplier of cosmetic active ingredients has announced the successful completion of an asset deal with Mirexus Inc., a Canadian company that offers a sustainable plant-derived glycogen (phytoglycogen) called PhytoSpherix for use in personal care products.
The transition became effective October 1st, 2022 and Mirexus’ branded products PhytoSpherix, EnerZea, Adveen and Susttain are fully integrated in the portfolio of Mibelle Biochemistry and are available for purchase immediately at the Swiss company.
“I am very excited about this asset deal, as we had been looking around for quite a while to find a perfect target, matching our philosophy ‘inspired by nature - realized by science’ and similarly fitting smoothly into our existing product portfolio,“ said Cornelia Schürch, Managing Director at Mibelle Biochemistry. “PhytoSpherix is finally fulfilling both requirements.”
“All of us at Mirexus are thrilled to find the ideal home for our technology at Mibelle Biochemistry. The deep knowledge and capabilities of Mibelle will enable the growth of this technology beyond what Mirexus could do on its own. We look forward to seeing the continued expansion of our technology under Mibelle’s experienced leadership”, said Phil Whiting, President & CEO of Mirexus Biotechnologies Inc.
Under the terms of the agreement, both parties accepted to not disclose financial details.