Novozymes
Global biotech firm merged with Chr. Hansen to form Novonesis.
Novozymes A/S was a Danish biotechnology firm based in Bagsværd, near Copenhagen. It specialized in creating industrial enzymes, microorganisms, and biopharmaceutical ingredients. In January 2024, it combined with Chr. Hansen to form Novonesis.
The company’s roots go back to 1925, when brothers Harald and Thorvald Pedersen set up two labs to produce insulin. In 1941, a predecessor launched its first enzyme—trypsin, taken from animal pancreases and used to soften leather. By the 1950s, it was the first to produce enzymes through bacterial fermentation. In the late 1980s, Novozymes introduced Lipolase, the world’s first fat-splitting enzyme for detergents, made using genetically engineered microorganisms.
The modern Novozymes was created in 2000, spun off from the pharmaceutical company Novo Nordisk. During the 2000s, it grew by buying firms outside its core enzyme business, including Brazil’s Turfal and Germany’s EMD/Merck Crop BioScience Inc., making it a leader in sustainable agricultural biologicals. In January 2016, it spun off its biopharmaceutical operations into Albumedix. In June 2020, it acquired Ireland’s PrecisionBiotics for $90 million, and that December it bought Microbiome Labs for $125 million.
On December 12, 2023, Novozymes and Chr. Hansen received regulatory approval to merge; the combined company was named Novonesis the next day. The merger was finalized on January 29, 2024, after all approvals from the Danish Business Authority.
Before the merger, Novozymes operated globally, including in China, India, Brazil, Argentina, the UK, the US, and Canada. Its Class B shares traded on the NASDAQ OMX Nordic exchange. Ownership was controlled by Novo Holdings A/S, a subsidiary of the Novo Nordisk Foundation, which held all Class A shares. Novo A/S also owned 5,826,280 B shares, giving it 25.5% of total capital and 70.1% of voting rights.
Quick Facts
- Trade Name
- Novozymes
- Traded As
- CSE11273 · NZYM B
- Parent
- Novo Holdings A/S
- Fate
- Merged with Chr. Hansen
- Successor
- Novonesis
- Hq Location
- Bagsværd, Denmark
- Key People
- Cees de Jong (Chairman) · Ester Baiget · da (President and CEO)
- Industry
- Biotechnology
- Products
- Enzymes, microorganisms, biopharmaceutical ingredients
- Operating Income
- 4.56 billion (2022)
- Net Income
- 3.69 billion (2022)
- Assets
- 27.9 billion (2022)
Facts from the source article.
Lore & Background
Novozymes traces its roots to 1925, when brothers Harald and Thorvald Pedersen founded Novo Terapeutisk Laboratorium and Nordisk Insulinlaboratorium to produce insulin. In 1941, the company's predecessor launched its first enzyme, trypsin, extracted from animal pancreas and used to soften leather. It was the first to produce enzymes by fermentation using bacteria in the 1950s. In the late 1980s, Novozymes presented the world's first fat-splitting enzyme for detergents manufactured with genetically engineered microorganisms, called Lipolase.
The current Novozymes was founded in 2000 as a spinout from pharmaceutical company Novo Nordisk. In the 2000s, it expanded through acquisitions including Brazilian bio agricultural company Turfal and German pharmaceutical, chemical and life science company EMD/Merck Crop BioScience Inc., making it a leader in sustainable solutions for the agricultural biological industry. In January 2016, it spun out its biopharmaceutical operations into Albumedix. In June 2020, it announced the acquisition of Ireland-based PrecisionBiotics for $90 million, and in December 2020, it announced the acquisition of Microbiome Labs for $125 million. On 12 December 2023, regulatory approval for a merger with Chr. Hansen was announced, and the combined company was named Novonesis. The merger finalized on 29 January 2024.
Reader's Guide
Novozymes was notable as a global biotechnology company that pioneered the industrial production of enzymes via fermentation, beginning with bacterial fermentation in the 1950s. Its development of Lipolase, the world's first fat-splitting enzyme for detergents made with genetically engineered microorganisms, marked a significant advance in enzyme technology. The company's acquisitions in the 2000s, such as Turfal and EMD/Merck Crop BioScience Inc., positioned it as a leader in sustainable agricultural biological solutions. Its spinoff of biopharmaceutical operations into Albumedix in 2016 and subsequent acquisitions of PrecisionBiotics and Microbiome Labs in 2020 reflected a strategic focus on microbiome and health-related products. The merger with Chr. Hansen in January 2024 to form Novonesis consolidated two major Danish bioscience companies. Prior to the merger, Novozymes had operations worldwide, including in China, India, Brazil, Argentina, the United Kingdom, the United States, and Canada, and its Class B shares were listed on the NASDAQ OMX Nordic exchange. Ownership was concentrated through Novo Holdings A/S and Novo A/S, which together held 25.5% of total share capital and 70.1% of votes.
Did You Know?
- The company's predecessor launched its first enzyme, trypsin, in 1941 to soften leather.
- The merger with Chr. Hansen to form Novonesis was finalized on 29 January 2024.
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