Bayer CropScience has entered into an agreement to purchase Athenix Corp., a privately-held independent biotechnology company headquartered in Research Triangle Park, North Carolina, US.

The acquisition of Athenix and its technology platform will boost Bayer CropScience's ability to make available novel technology and complete agricultural solutions to growers worldwide. The acquisition is subject to premerger notification to the relevant US authorities. The final purchase price is yet to be disclosed.

Athenix has an extensive herbicide tolerance and insect control trait development platform, particularly for corn and soy. The acquisition will also bolster Bayer CropScience's trait platform for its established core crops such as oilseeds, cotton, rice and wheat. The acquisition complements the fast growing BioScience business of Bayer CropScience by significantly extending its research & development (R&D) presence in North America.

Athenix will also strengthen the R&D pipeline of Bayer CropScience through its outstanding collection of genes. The acquisition will allow Bayer CropScience to strengthen its attractiveness as a partner to other stakeholders in the seed business worldwide and will generate attractive additional trait fee income beyond the income streams based on Bayer CropScience's current trait technology.

Bayer CropScience AG, a subsidiary of Bayer AG, is one of the world's leading innovative crop science companies in the areas of crop protection, non-agricultural pest control, seeds and plant biotechnology.

Athenix is a leading biotechnology company that develops novel products and technologies for agricultural and industrial application.