I think "the Company" in that particular statement refers to SYNJ (past tense) which "had now evolved", compared to the earlier creation-of-MEG reference "The Company is to operate as..."
It is confusing that "the Company" is used that way, referring to SYNJ and MEG in the same paragraph as "the Company", and further confusing that this a document about past activities but written closer to the present with forward-looking statements.