Bayer CropScience acquires U.S. agricultural biotech company Athenix for $400 million
Clients Bayer AG
Jones Day advised Bayer CropScience LLC in its $400 million acquisition of Athenix Corp. The crop science industry has in recent years changed its focus from one centered on chemicals to one using biotechnology to develop crops that are herbicide, insect and nematode resistant. Athenix has an extensive microbial collection from which it has isolated herbicide tolerant genes, Bt insecticidal genes and genes with toxicity to nematodes. Athenix researchers develop and conduct bioassays to screen the microbial collection against the major insect pests of corn, cotton, and soybeans. Intersouth Partners, Polaris Venture Partners, Boston Millenia Partners, Hunt BioVentures, Eastman Ventures and Finestere Partners were some of the investors in Athenix since its formation in 2000.
In addition to M&A representation, Jones Day provided antitrust, environmental, and intellectual property advice regarding this transaction.