Bayer CropScience Acquires Athenix Corp
August 20, 2009| |
In a bid to bolster its efforts to develop better genetically modified crop varieties, Germany-based chemical company Bayer CropScience has agreed to purchase Athenix Corp, a privately-held independent biotechnology company headquartered in North Carolina, USA. The financial terms of the acquisition were not disclosed and Bayer said that the companies must still gain U.S. regulatory approval.
Since its establishment in 2001, Athenix has developed several products and technologies for agricultural and industrial applications. It has an extensive herbicide tolerance and insect control trait development platform, particularly for corn and soybean. Bayer said that the acquisition complements its BioScience business by significantly extending its research and development presence in North America.
Read the press release at http://www.press.bayercropscience.com/bcsweb/cropprotection.nsf/id/EN_20090819?open&l=EN&ccm=500020
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