BASEL, Switzerland, Oct. 27 /PRNewswire-FirstCall/ -- Syngenta Ventures announced today that it has made an equity investment
"The creation of Syngenta Ventures will complement our in-house R&D work and enables us to be even more involved in promising technologies and innovative products with external partners," said Robert Berendes, Head of Business Development at Syngenta. "We need access to the best available new technologies in order to achieve the increase in agricultural output which will be vital over the coming years."
Sandro Aruffo, Head of Research and Development at Syngenta, added: "This investment follows a research collaboration with Metabolon which has existed for some years. We believe Metabolon's unique metabolomics platform will be an increasingly important technology for the development of innovative new products in the agriculture industry."
Metabolomics provides mechanistic insight and biochemical markers for complex biological processes. This technology aims to accelerate the development of plants with innovative new native and genetically modified traits.
Syngenta Ventures will take a seat on the Board of Metabolon. The equity investment was made in the Series C financing of Metabolon which raised in total $12.3 million from a number of investors, including Syngenta Ventures. Financial details of the equity investment were not disclosed.
Syngenta (NYSE: SYT) is one of the world's leading companies with more than 24,000 employees in over 90 countries dedicated to our purpose: Bringing plant potential to life. Through world-class science, global reach and commitment to our customers we help to increase crop productivity, protect the environment and improve health and quality of life. For more information about us please go to www.syngenta.com.
Metabolon is a diagnostics and services company offering the industry's leading biochemical profiling platform. Metabolon's patented platform provides a global analysis of complex biological samples for the discovery of markers. This metabolomics-driven approach enables the identification of biomarkers useful for the development of a wide range of diagnostics and provides insight into complex biochemical processes such as drug action, toxicology and bioprocess optimization. For more information about Metabolon, please visit www.metabolon.com.
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This document contains forward-looking statements, which can be identified by terminology such as 'expect', 'would', 'will', 'potential', 'plans', 'prospects', 'estimated', 'aiming', 'on track' and similar expressions. Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements. We refer you to Syngenta's publicly available filings with the U.S. Securities and Exchange Commission for information about these and other risks and uncertainties. Syngenta assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors. This document does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer, to purchase or subscribe for any ordinary shares in Syngenta AG, or Syngenta ADSs, nor shall it form the basis of, or be relied on in connection with, any contract therefore.
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