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Markets :: Fine Chemicals/Biotech :: Seeds and traits

Bayer CropScience Completes Acquisition of U.S. Biotech Firm for $365 Million

10:42 PM MST | November 3, 2009 | Deepti Ramesh

Bayer CropScience says it has completed the previously announced acquisition of Athenix (Research Triangle Park, NC), a privately held biotechnology company, for $365 million. Further cash payments based on the achievement of certain development milestones may amount up to $35 million, Bayer CropScience says. The acquisition will complement Bayer CropScience's fast growing BioScience business by significantly extending its R&D presence in North America. It will also bolster Bayer CropScience's trait platform for established core crops such as oilseeds...

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