Spanish agricultural biotech invests in Australian agtech
07 Jul 2017
The Spanish agricultural biotech R&D company, Symborg, has invested in Australian agricultural biotech company, thinkbio.
Symborg, a leader in agricultural biotechnology research and innovation, develops patented technology that provides growers with biological solutions to help maximise crop yields. Thinkbio specialises in the development of endophytic bacterial products that are applied to agricultural crops for improved performance and sustainability.
Collaborating on microbial R&D initiatives, the two companies will to share expertise to strengthen their collective biotechnology products for the global agricultural production market.
Jesús Juárez, CEO of Symborg, said that the two companies have a lot in common because thinkbio was only established in 2015 and is a young company with significant knowledge and expertise. ‘They are in the same situation Symborg was in a few years ago, with know-how and a highly qualified team working hard to establish a foundation for ensuring success.’
Lisa Anderson, Managing Director of thinkbio, said that the venture with Symborg would ‘enable both organisations to collectively develop R&D expertise and leverage distribution networks around the world, adding value to crop production in different markets and environments’.
Thinkbio, which has partnered and collaborated with leading universities, manufacturers and agribusinesses in bringing ideas and products to successful commercialisation, plans to leverage its proximity to Asia to drive market access for new and innovative products in the Asia-Pacific region.
‘We are very pleased by the opportunities this presents for both companies,’ Ms Anderson said. ‘We strongly believe that through the use of our technology, thinkbio can make a significant contribution to improving environmental sustainability and increasing productivity in agricultural crops throughout the world.’