Novozymes

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.