Syngenta snaps up U.S. biotech company Pasteuria
ZURICH, Sept 19 |
ZURICH, Sept 19 (Reuters) - The world's largest agribusiness company Syngenta said on Wednesday it will acquire U.S. biotech company Pasteuria Bioscience Inc in a deal worth $86 million, with additional deferred payments of up to $27 million.
The two companies already collaborate in the development and commercialization of biological products to control plant-parasitic nematodes.
Nematodes are a major pest across all crops and the withdrawal of older solutions leaves growers with limited options.
A first seed treatment for soybean cyst nematode stemming from the collaboration will be available in the U.S. in 2014, Syngenta said.
(by Andrew Thompson)
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