DuPont Biologicals on Wednesday announced an agreement to acquire Taxon Biosciences Inc., a leading microbiome discovery company.
The acquisition will build on DuPont’s in-house capabilities and market access in seed and crop protection to discover and commercialize biological solution for agricultural customers worldwide.
“The acquisition of Taxon will complement and enhance our in-house microbial discovery programs,” DuPont Biologicals Director Frank DeGennaro said. “With this added capability, we expect to accelerate our time from discovery to market and we are field testing biological discovery leads identified by Taxon this year.”
Taxon, founded in 2000, holds a wide intellectual property estate in the field of microbial consortia and microbial genomics products that will assist the development of new DuPont seed treatment, foliar and soil application products.
“DuPont has a legacy of innovation, and we are excited to join the company in transforming the future of global agriculture through crop biologicals,” Taxon CEO and President Glenn Nedwin said. “Our unique technology platform coupled with DuPont’s robust research capabilities and positioning across several markets makes the integration of Taxon into DuPont a natural fit and will support DuPont’s ability to bring new products to the market, faster."
The financial terms of the agreement, which is expected to close in the second quarter, were not disclosed.