Syngenta and Diversa form R & D alliance
Discovery activities in genomics combine for new plant science applications in selected antibody generation and other biopharma product development.
Syngenta, based in Basel Swizerland, and Diversa, based in San Diego, US are to collaborate in setting up a shared biotechnology research platform for product discovery.
Diversa will acquire technology rights from Syngenta for pharmaceutical applications, in exchange for equity. The deal will strengthen the research capabilities of both companies.
Syngenta’s research contract with Diversa is for an initial $118 million over seven years to be invested in products in Syngenta’s exclusive fields. Diversa will receive milestone payments and royalties on products developed.
Diversa will gain an exclusive, royalty-free, perpetual license from Syngenta for gene technology and intellectual property, including proteomics, metabolomics, RNA dynamics, fungal technologies, and bioinformatics, for use in the pharmaceutical field while Diversa will issue to Syngenta stock and warrants representing 14% and 3% respectively of Diversa’s outstanding stock pro forma for the equity issuances, increasing Syngenta’s ownership to over 18%.
Syngenta will relocate its plant genomics programs, including its pioneering work with the rice genome, from the Torrey Mesa Research Institute (TMRI) in La Jolla, California to Syngenta Biotechnology, Inc. (SBI) in Research Triangle Park, North Carolina.
The majority of employees will be relocated to Diversa or SBI. "This collaboration will ensure that Syngenta stays at the cutting edge of genomics science and creates new product opportunities," said Dr. David Lawrence, Syngenta Head of Research & Technology.
Keywords : Syngenta Switzerland Diversa USA Development alliance Plant genomics Therapeutic proteins Antibodies Biopharmaceuticals
