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Bayer buys Icon Genetics

Agriculture.com Staff 01/12/2006 @ 8:24am

Bayer Innovation, a subsidiary of the Bayer Group, has acquired Icon Genetics AG, a biotech company headquartered in Munich, Germany. Icon Genetics discovers innovative methods for the development and use of engineered plants.

The companies have agreed not to disclose any details of the acquisition, which closed on Monday.

Bayer and Icon Genetics have been cooperating on research since January of 2005. The previously announced alliance centered around the use of Icon's proprietary magnICON® biomanufacturing platform technology, which produces therapeutic and other high-value recombinant proteins in non-food plants.

Bayer says the acquisition will strengthen its effors to produce specific plant-made pharmaceuticals. The technology uses the natural protein production processes in plants as a way of producing therapeutically active substances.

Bayer Innovation, a subsidiary of the Bayer Group, has acquired Icon Genetics AG, a biotech company headquartered in Munich, Germany. Icon Genetics discovers innovative methods for the development and use of engineered plants.

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