Bayer CropScience today announced the completion of its previously announced acquisition of Athenix, a Research Triangle Park biotechnology company, and also disclosed the purchase price: $365 million.
Bayer CropScience also could pay up to $35 million additional for its RTP neighbor in the future upon achievement of unspecified milestones. Founded in 2001, Athenix genetically engineers corn and soybeans to resist bugs and chemicals.
Bayer CropScience, the subidiary of Germany's Bayer, announced in August that it was acquiring Athenix but didn't disclose the purchase price at that time. Bayer CropScience employs more than 400 at its North American headquarters in RTP.
Bayer previously said that it had no plans for job cuts at Athenix, which has about 65 workers.
The acquisition bolsters Bayer's research-and-development pipeline and is the latest example of the company's investments to strengthen its market position, Bayer CropScience's chairman, Friedrich Berschauer, said in a prepared statement.
"Within the last year, we have announced business expansions involving three new state-of-the-art research and development facilities in the United States and Canada," he said.
Intersouth Partners, a Durham venture capital firm, was an early investor in Athenix.
David Ranii has been a business reporter at The News & Observer since 1993. Over the years he has covered information technology, banking, insurance, the pharmaceutical and biotechnology industries, media businesses and real estate. Contact him at 919-829-4877 or 
