FRANKFURT (Reuters) – Switzerland-based pesticides maker Syngenta said on Wednesday that it has acquired a repository of natural compounds and genetic strains from drugmaker Novartis to further boost development of biologic crop protection.
In its statement, China-controlled Syngenta said that Novartis will retain exclusive rights to the repository for pharmaceutical use, without disclosing financial terms.
Under the deal, Syngenta will lease a fermentation pilot plant and science laboratories in Basel as well as hire a team of biomolecular chemistry researchers at Novartis.
Syngenta has been investing to develop organisms, natural molecules, plant extracts, and other bio-based materials to complement its chemical crop protection products.
(Reporting by Ludwig Burger, Editing by Miranda Murray)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.