In New Jersey, Modern Meadow has sold its beauty and biomedical divisions to HTL Biotechnology for an undisclosed sum. Modern Meadow cited a strategic shift to focus solely on biomaterials as reason for the sale.
“Our decision to focus on our bio-materials business will drive both our research and commercial efforts in this sector and bring next-gen products to industries such as apparel, footwear, outdoor, and automotive,” David Williamson, PhD, Modern Meadow’s President and COO, said in a rpess statement.
HTL Biotechnology is a French biotech company responsible for the development and biomanufacturing of pharmaceutical-grade polymers. “HTL is the ideal acquirer for our Beauty and BioMed business, creating the right environment for these units to realize their full potential,” Williamson added.
Tags: Modern Meadow, New Jersey
Category: Chemicals & Materials
