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Bayer Acquires Targenomix To Boost Agritech Innovations

The biotechnology start-up's expertise, platforms and personnel are significant to Bayer's new crop protection systems biology platfor

Bayer Acquires Targenomix To Boost Agritech Innovations
POSTED ON November 14, 2022 4:53 PM

German-based pharma major Bayer has acquired Targenomix. The Leverkusen-based biotech start-up Targenomix is committed to making agriculture more sustainable amid challenges like climate change. Its expertise, platforms and personnel can be significant for Bayer's new crop protection systems biology platform. 

Incorporating the start-up's system biology approach into its R&D pipeline, Bayer will seek to develop new and innovative technologies that can effectively cultivate safe and secured products for farmers. 

Dr. Robert Reiter, head of Bayer's Research and Development (R&D) team, said, "By using a holistic biology approach and leveraging expertise built on a strong scientific foundation, Targenomix has delivered numerous novel targets and modes of action for small molecules in weed control. Their innovative tools to identify and select safe and sustainable compounds complement our design-based strategy in crop protection discovery and will accelerate the development of new products that farmers need to meet future agriculture challenges."  

"Combining Bayer's leading capabilities and proven crop protection pipeline with Targenomix's flexible start-up mindset, deep multi-omics technology, and systems biology expertise will allow us to continue to deliver novel modes of action jointly," Dr. Sebastian Klie, chief executive officer of Targenomix. 

Bayer Crop Science reported a 5.5 per cent growth in net profits for the second quarter that ended in September 2022. The company registered a net profit of Rs 162.6 crore in Q2 FY23, compared to Rs 154.1 crore in the corresponding period last year. 

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