Monsanto Company (NYSE: MON) has acquired Beeologics Ltd., a developer of targeted biological pest and disease control solutions for bees and bee colonies.
Beeologics' current projects include a product that uses a naturally-occurring process to help protect bee health. Monsanto intends to apply Beeologics' expertise in biological products for more general use in agriculture, by using the company's core technology for its discovery and development pipeline. It will support Beeologics' team and products pipeline.
Monsato says that biological products will continue to play an increasingly important role in supporting the sustainability of many agricultural systems.
Bee colonies worldwide have been decimated in recent years, jeopardizing many crops and global food supplies. The reasons are unknown, and companies and researchers are working flat-out to find solutions.
Beeologics president and CEO Eyal Ben-Chanoch, CTO Nitzan Paldi, and EVP business development Dr. Gal Yarden founded the company, which has offices and laboratories in Florida and Rehovot. The company has 20 employees of whom 15 are in Rehovot.
Published by Globes [online], Israel business news - www.globes-online.com - on October 3, 2011
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