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Bioceres joined a US firm and start trading on Wall Street

November 10, 2018 - By Joseph Taylor

In front of the port of Rosario it is easy to repair in a radiant white set of buildings, which is a symbol of modernity. It is the headquarters of Bioceres, the company that began to imagine itself in the dramatic 2001 and that today is the vanguard in the technology that is applied in the field. Mathematicians, geneticists, chemists and engineers of various specialties converge. At the beginning there were twenty-three partners, each of whom put out of his pocket US $ 600 to give shape to a model that unites the academy, the private sector and the State, in full cooperation. Today there are 308 partners of a firm that reinvests all its profits. And he made notable advances in metabolic engineering and molecular agriculture, among others.

Yesterday, Bioceres took another big leap: it acquired Union Acquisition Corp, a US company. as a vehicle to quote on Wall Street, which is already a fact.

This being the case, Bioceres will be the first biotechnology company in Latin America that lands on the New York Stock Exchange. It does so under the name Bioceres Crop Solutions and already has an estimated value of US $ 456 million.

It is also the first exit to the US Stock Exchange. after the dramatic devaluation and fall of activity in what is read as a return to the markets.

Bioceres is the 20th company of the Argentinas contributing on Wall Street. And today it is one of the biggest generators of biotechnological projects in a vertex that unites scientific knowledge with the producer and also seeks financing.

“Let’s be encouraged, we are no less,” says Federico Trucco, the CEO of his team, convinced that Argentina can lead in this sector globally.

The firm had already been about to land on the New York Stock Exchange but had to postpone the decision for the punishment of investors to Argentina.

For the company it is key to quote on the Stock Exchange as it obtains financing to continue growing. Its main assets are its patents and accounts for no less than 217 international patents.

One of its main assets is hb4, the gene resistant to drought and saline soils. This gene, developed by Raquel Chan at the Universidad del Litoral, expresses the integration of the scientific sector with the business sector.

And forward, Bioceres is working on a seed that summarizes itself from the fertilizer, to the herbicide.

According to its CEO, Federico Trucco, Bioceres sees plants as protein factories. One case is that of chymosin that is used in the manufacture of a cheese that was previously obtained by fermentation. Now, by cloning a safflower seed, the chymosin can be extracted. Bioceres joined with Porta Hermanos and is in full production of that input.

Before this exit to the Stock Exchange, the firm acquired 51% of Rizobacter, with a large commercial network and expert in crop protection. Part of the funds that you reap in the stock market will be to pay the credit with which you bought Rozibacter and expand the participation to 80%.

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