Monsanto Acquires Targeted-Pest Control Technology Start-Up
ST. LOUIS, Sept. 28, 2011 /PRNewswire/ -- Monsanto Company (NYSE: MON) today announced it has acquired Beeologics, which researches and develops biological tools to provide targeted control of pests and diseases. Terms of the deal were not disclosed.
Beeologics is focused on biological research. Current projects in its pipeline – including a product candidate being developed to help protect bee health – use a naturally-occurring process to provide targeted pest and disease control.
The expertise Beeologics has developed will enable Monsanto to further explore the use of biologicals broadly in agriculture. Monsanto will use the base technology from Beeologics as a part of its continuing discovery and development pipeline. Biological products will continue to play an increasingly important role in supporting the sustainability of many agricultural systems. Both companies expect that their combined research could provide farmers with novel approaches to the challenges they face.
Monsanto, which has proven expertise in managing a technology pipeline, will support the Beeologics team and its Technology Advisory Board in advancing its pipeline. Beeologics' work to promote bee health will continue under Monsanto's ownership.