FMC Corporation significantly expands biologicals platform with agreement to acquire BioPhero

• BioPhero brings new game-changing biologically produced pheromone technology to FMC's award-winning pipeline and product portfolio.
• FMC expects revenue from pheromones and pheromone-based insect control products of approximately $1 billion with above company-average EBITDA margin by 2030.
• BioPhero's patented fermentation process can manufacture sustainably advantaged pheromones at costs significantly lower than competitive processes.

 

 

PHILADELPHIA, June 29, 2022 /PRNewswire/ -- FMC Corporation (NYSE: FMC), an agricultural sciences company, today announced a definitive agreement to acquire BioPhero ApS, a Denmark-based pheromone research and production company. The acquisition adds biologically produced state-of-the-art pheromone insect control technology to FMC's product portfolio and R&D pipeline, underscoring FMC's role as a leader in delivering innovative and sustainable crop protection solutions.

BioPhero has pioneered a highly efficient yeast fermentation process for manufacturing pheromones at significantly lower costs and with fewer production steps compared to competitors' traditional chemical synthesis methods. Lower costs expand the pheromone addressable market from today's focus on specialty fruit and vegetables to now include the large row crop market. FMC expects pheromones and pheromone-based products to contribute approximately $1 billion in revenue at above company-average EBITDA margin by 2030.

"This acquisition demonstrates our continuing commitment to invest in biologicals and adjacent technologies, expanding our world-class portfolio while advancing sustainable agriculture," said Mark Douglas, FMC president and chief executive officer. "BioPhero is a pioneer in the production of pheromones through a unique, highly efficient bioprocessing method—a game-changer in pheromone manufacturing technology. FMC's broad market access, leadership position in the high-value insecticide market, formulation know-how and application expertise provide significant opportunities to bring sustainably advantaged pheromone technology to more agricultural markets around the world. We look forward to adding an extensive pheromone platform to our biologicals business and welcoming the BioPhero team to FMC."