Syngenta Acquires Pasteuria Bioscience, Inc.

In an $86 million transaction, Syngenta has agreed to purchase Pasteuria Bioscience, Inc, an Alachua-based company. Syngenta, an in-vitro production process that will enable the development of cost-effective chemical pesticides, will be launching their first product in the U.S. in 2014. The product will be used as seed treatment for soybean cyst nematode, roundworms that attack soybeans. Since 2011, Syngenta and Pasteuria have had a global partnership where they have developed and commercialized biological products to control these plant-parasitic worms. Syngenta plans to utilize the key products and use them with its existing chemical pesticide range to treat a plethora of crops including soybean, corn, cereals, sugarbeet and vegetables.

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