Avrio portfolio company Allylix to be sold to Switzerland's Evola

U.S. renewable chemical company Allylix Inc recently agreed to be acquired by Evolva Holding SA in an all-share deal estimated by Thomson Reuters to value US$61 million. Evola, a Swiss biosynthetic company that develops ingredients and processes for nutrition, health care, and wellness products, said the acquisition will expand and enhance its product and intellectual property portfolio. Founded in 2002, Allylix has been venture-backed since 2005. Its investors include Canada's Avrio Capital, which in 2012 participated in Allylix's US$18.2 million follow-on financing led by BASF Venture Capital.

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