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Bayer joins in $100 million investment bet on ag-biotech startup

Reuters  |  CHICAGO 

By P.J. HuffstutterCHICAGO (Reuters) - Germany's Bayer AG , one of the world's biggest agricultural chemical companies, is joining a $100 million bet that the next big breakthrough in crop fertilizers will be found inside a biological Petri dish.Its Bayer LifeScience Center division, along with biotech firm Ginkgo Bioworks, is forming a startup to focus on developing biological solutions to reduce the use of nitrogen-based fertilizer, or make farmers' use more efficient, company officials said this week.The venture will be backed via a Series A investment from the two companies and hedge fund ...

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First Published: Thu, September 14 2017. 09:36 IST