(RTTNews) - Ginkgo Bioworks (DNA) has signed a definitive agreement for the previously announced transaction with Bayer (BAYZF.PK, BAYRY.PK, BYR.L) to build agricultural biologicals R&D platform capabilities. Ginkgo will acquire Bayer's West Sacramento Biologics Research & Development site, team, and internal discovery and lead optimization platform for approximately $83.0 million in consideration. Ginkgo will also integrate the R&D platform assets from Joyn Bio, a joint-venture between Ginkgo and Leaps by Bayer.
As part of a three-year partnership, Ginkgo will provide research services to Bayer in the field of agricultural biologicals with the potential to earn downstream value in the form of royalties on net sales from products developed under the partnership.
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