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FMC acquires BioPhero

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FMC Corporation is acquiring BioPhero ApS, a Denmark-based pheromone research and production company. The acquisition adds biologically produced pheromone insect control technology to FMC's product portfolio and R&D pipeline.

BioPhero has pioneered a highly efficient yeast fermentation process for manufacturing pheromones at significantly lower costs and with fewer production steps compared to competitors' traditional chemical synthesis methods. Lower costs expand the pheromone addressable market from today's focus on specialty fruit and vegetables to now include the large row crop market.

According to Mark Douglas, FMC president and chief executive officer, the acquisition demonstrates the company’s commitment to invest in biologicals and adjacent technologies. "BioPhero is a pioneer in the production of pheromones through a unique, highly efficient bioprocessing method – a game-changer in pheromone manufacturing technology. FMC's broad market access, leadership position in the high-value insecticide market, formulation know-how and application expertise provide significant opportunities to bring sustainably advantaged pheromone technology to more agricultural markets around the world.”

Dr. Irina Borodina, co-founder and chief scientific officer of BioPhero, said given FMC's leadership position in the development of biological plant health products, manufacturing and formulation expertise, and existing operations in Denmark, “we believe FMC is an excellent company to take this business forward. FMC's global market access and significant investments in R&D will accelerate our ability to bring highly advanced pheromone insect control technology to growers around the world."

According to Dr. Kathleen Shelton, FMC executive vice president and chief technology officer, the company expects to launch five new pheromone products over the next three to five years. “The opportunities for advanced biomanufacturing technology extend well beyond insect control,” she adds. “Working together, we can significantly expand the use of fermentation technologies across a wider set of crops targeting a variety of pests, including fungi and weeds."

The purchase price of approximately $200 million will be paid at closing. Following regulatory approvals and satisfaction of customary closing conditions, the acquisition of BioPhero is expected to be completed by the end of the third quarter 2022.

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