BioBond Adhesives Inc. announced the company has executed a license agreement with the Purdue Innovates Office of Technology Commercialization (Purdue OTC) at Purdue University to advance technologies with the potential to usher in a new era with biodegradable adhesives alternatives for packaging used in the consumer products industry. BioBond is the second portfolio company launched by Big Idea Ventures' Generation Food Rural Partners I, LP (GFRP) Fund.

BioBond is licensing multiple patent applications in the novel biomaterials space from Purdue OTC. Marc McConnaughey, CEO of BioBond, explained, "Petroleum-based adhesives are a major source of VOCs and microplastics and are in need of innovative solutions which reduce our day-to-day exposure and decompose quickly. I am pleased and excited to partner with Purdue in bringing these needed technologies to the market."

"BioBond's ability to create novel, biobased adhesives and coatings that remove fossil fuel based components will be accelerated by licensing materials technology generated from innovative professors at Purdue University," said Frank Klemens, managing director of the GFRP Fund. "This close relationship is possible due to our decision to locate BioBond in a rural area near Purdue University. Being in close proximity to the Indiana Corn and Soybean associations also enables BioBond to source and produce products efficiently resulting in a product that is at cost parity or better. The fund looks forward to a long, fruitful relationship with Purdue's team of professional innovators and Indiana's ecosystem for many years to come."

"It has been great working with Generation Food Rural Partners Fund. We are excited to work with BioBond in advancing the field of sustainable packaging to help solve some important global challenges associated with adhesives," said Brooke Beier, senior vice president of Purdue Innovates. This license from work within Purdue's College of Science's Tarpo Department of Chemistry is further proof that industry and academia can work together to advance technologies to improve people's lives around the world.

BioBond Adhesives Inc., Lafayette, Indiana, is a material technology company developing new adhesive materials, coatings, and applications that makes the environment a healthier and safer place to live and work. As the second company formed within BIV's Generation Food Rural Partners (GFRP) Fund, BioBond licenses intellectual property from multiple universities collaborating to develop novel materials to reduce the amount of plastic waste and VOCs such as formaldehydes entering the environment. For more information, visit biobondadhesives.com.

Generation Food Rural Partners is an RBIC-licensed investment fund designed to drive economic growth and development in rural communities in the United States. It invests in the areas of agriculture, food, and protein technologies to form new companies based on intellectual property, creating living wage jobs at its portfolio companies. GFRP is backed by members of the Farm Credit System, including Farm Credit Services of America, CoBank, Compeer Financial and Mid-America Farm Credit. GFRP is part of Big Idea Ventures (BIV), the world's most active investor in FoodTech. BIV backs leading companies in food technology, AgriTech, and the bioeconomy across the globe. BIV has invested in over 100 companies across 30 countries. It manages both the Global Food Innovation fund family and GFRP. For more information, visit bigideaventures.com/generation-food-rural-partners.

The Purdue Innovates Office of Technology Commercialization operates one of the most comprehensive technology transfer programs among leading research universities in the United States. Services provided by this office support the economic development initiatives of Purdue University and benefit the university's academic activities through commercializing, licensing, and protecting Purdue intellectual property. The office is managed by the Purdue Research Foundation, a private, nonprofit foundation created to advance the mission of Purdue University. Contact otcip@prf.org for more information.