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{{Short description|Belgium-based biotechnology company}}
{{Infobox company
| name = Devgen NV
| type = Acquired by [[Syngenta]] in 2013
| foundation = [[Ghent|Gent]], [[Belgium]] (1997)
| key_people = [[Thierry Bogaert]], Founder, CEO<br />[[Remi Vermeiren]], Chairman<br />Wim Goemaere, [[Chief Financial Officer|CFO]]
| industry = [[Agriculture]] and biotech
| products = [[Pesticide]]s, [[Seed|crop seeds]], [[Biotechnology#Agriculture|agricultural biotechnology]]
| homepage = http://www.syngenta.com}}

'''Devgen''' is a [[Belgium]]-based [[Multinational corporation|multinational]] [[agricultural biotechnology]] [[company]]. It uses biotechnology and [[molecular breeding]] technologies to develop varieties of [[food crop]]s. Its technology is marketed by outlicensing or selling seeds in India and South-East Asia. Devgen also develops [[nematicide]]s.

==History==
===RNA interference spin off===
Devgen was founded as a [[Research spin-off|spin-off]] of [[Ghent University]] and [[Vlaams Instituut voor Biotechnologie|The Flemish Institute for Biotechnology]] in 1997 to commercialize [[intellectual property]] it licensed on the use of [[RNAi]] in [[nematode]]s and its use for screening for [[therapeutics]] and/or their targets. Its work focused on the nematode [[Caenorhabditis elegans|''C. elegans'']] as a model system, which functions as a model for human diseases, but also as a model for the kind of nematodes that are agricultural pests.<ref>{{Cite web |url=http://www.vib.be/en/business-opportunities/spinoffs/Pages/Devgen.aspx |title=Devgen page at VIB |access-date=2014-12-31 |archive-date=2020-02-21 |archive-url=https://web.archive.org/web/20200221080908/http://www.vib.be/en/business-opportunities/spinoffs/Pages/Devgen.aspx |url-status=dead }}</ref><ref name=Albrecht/>

The company raised 37 million Euro in its first three years, first from the [[GIMV]] and Abingworth investment companies at its launch, then from the [[Institute for the promotion of Innovation by Science and Technology|IWT]], then from another round of private investors including [[ING]], KBC, Life Science Partners, Sofindex, Rendex and Mercator, then from Polytechnos and Capricorn.<ref name=Albrecht>Johan Albrecht, Vlerick Leuven Gent Management School, Universiteit Gent Juni 2004 [http://www.ondernemerschap.be/Upload/Documents/STOOI/Studies/2004/S_Biotech_Cluster_project.pdf Biotech Cluster Project Biopharmaceutical Network Dynamics in Flanders and Sector Competitiveness] {{Webarchive|url=https://web.archive.org/web/20150108160257/http://www.ondernemerschap.be/Upload/Documents/STOOI/Studies/2004/S_Biotech_Cluster_project.pdf |date=2015-01-08 }}</ref>{{rp|36–37}} The received several subsequent grants from IWT.<ref>Devgen Press release, January 9, 2003. [http://www.prnewswire.com/news-releases/devgen-receives-grant-for-ion-channel-research-73750782.html Press release: Devgen Receives Grant For Ion Channel Research]</ref><ref>in-Pharma Technologist. 21 Nov, 2003 [http://www.in-pharmatechnologist.com/Ingredients/Grant-helps-Devgen-explore-drug-mechanisms Grant helps Devgen explore drug mechanisms]</ref><ref>Devgen Press Release. November 25, 2004 [http://www.evaluategroup.com/Universal/View.aspx?type=Story&id=111481 Press release: Devgen Receives IWT Grant to Develop Novel Nematicides]</ref><ref>gate2biotech 7 Feb 2006 [http://www.gate2biotech.com/devgen-receives-iwt-grant-to-support-crop/ Devgen receives IWT grant to support crop protection R and D]</ref><ref>Devgen Press release. 26 Feb 2007 [http://www.biospace.com/News/devgen-nv-receives-iwt-grant-to-support-its/47045 Devgen NV Receives IWT Grant to Support its Obesity Drug Discovery Program]</ref>

Devgen also struck [[R&D]] collaborations over its first six years, first with [[Janssen Pharmaceutica]] in 1998 in the field of target discovery for drugs and later with [[Merck & Co.|Merck]] and [[Genentech]] in the same field, and in 1998 it collaborated with [[FMC Corporation]] for the discovery of novel insecticides, and then with other ag companies like [[Sumitomo]], [[Syngenta]], [[Pioneer Hi-Bred]]. Devgen brought in 23 million Euro in funding from these partnerships through 2003.<ref name=Albrecht/>

In 2004 it opened a second office in [[Singapore]] and moved into a new research building on the Ardoyen Technology Campus.<ref>Cisco. [http://www.cisco.com/web/BE/pdfs/success_stories/case_devgen_uk.pdf Innovative biotechnology company opts for IP communications]</ref>

===Seed company===
In June 2005, employing close to 100 people, Devgen raised more than 33 million euro in a successful IPO on Euronext Brussels.<ref>{{Cite web |url=http://www.abingworth.com/_news/devgenpress200506051.pdf |title=Press release: Devgen Raises € 30 Million in Successful IPO |access-date=2014-12-31 |archive-url=https://web.archive.org/web/20061016111419/http://www.abingworth.com/_news/devgenpress200506051.pdf |archive-date=2006-10-16 |url-status=dead }}</ref> Also in 2005, it established rice breeding stations in Kenya; it completed its first field trials there in 2006.<ref>Devgen. February 7, 2007 [http://www.marketwired.com/press-release/devgen-moves-ahead-its-rice-business-plan-appoints-management-senior-advisor-its-rice-714598.htm Press release: Devgen moves ahead in its rice business plan, appoints management and senior advisor for its rice unit]</ref> In 2005 it also launched field trials of its [[nematicide]] in Europe.<ref>Devgen Press Release. March 07, 2007 [http://www.marketwired.com/press-release/positive-outcome-of-2006-season-of-nematicide-field-trials-716904.htm Positive outcome of 2006 season of nematicide field trials]</ref>

In early 2007, Devgen and [[Monsanto]] announced a five-year collaboration in which the two companies would share technologies, with Devgen focusing the shared technology on the development of rice and other small cereal grains, and Monsanto using them to develop new [[Phenotypic trait|traits]] for corn, cotton, and soybeans.<ref>Farm Futures. Feb 7, 2007 [http://farmfutures.com/story-devgen-and-monsanto-to-exchange-technology-8-10554 Devgen and Monsanto to Exchange Technology]</ref> Later in 2007, Devgen acquired Monsanto's subsidiaries in India, Pakistan, and the Philippines that developed and sold hybrid seeds for 4 crops: [[rice]], [[sunflower]], [[sorghum]] and pearl [[millet]], for about $26M.<ref>Monsanto Press Release. September 14, 2007 [http://news.monsanto.com/press-release/devgen-acquire-rice-sunflower-sorghum-and-pearl-millet-businesses-india-and-other-asia Press release: Devgen to Acquire Rice, Sunflower, Sorghum and Pearl Millet Businesses in India and Other Asian Countries From Monsanto] {{Webarchive|url=https://web.archive.org/web/20170225033307/http://news.monsanto.com/press-release/devgen-acquire-rice-sunflower-sorghum-and-pearl-millet-businesses-india-and-other-asia |date=2017-02-25 }}</ref> Shortly thereafter, it announced its intention to spin off its pharma division.<ref name=First>First Word Pharma. November 5th, 2008 [http://www.firstwordpharma.com/node/34967?tsid=17 Devgen announces the intention to close its pharma division and to fully focus on the development of its agro business]</ref> In late 2008 it fired its 19 pharma employees, leaving about 200 remaining in its ag businesses.<ref name=First/> In 2010, some former Devgen pharma employees started a pharmaceutical company, Amakem NV, to develop [[kinase inhibitor]]s they had discovered at Devgen.<ref>Amakem Press Release. February 11, 2010 [http://www.amakem.com/uploads/100209_AMAKEM_PR_EN.pdf Amakem, a new Flemish drug discovery company starts operations for treatments of major chronic diseases] {{Webarchive|url=https://web.archive.org/web/20150101040037/http://www.amakem.com/uploads/100209_AMAKEM_PR_EN.pdf |date=2015-01-01 }}</ref><ref>BioPharmaceutiques 2009 [http://www.biopharmaceutiques.com/en/article/126_2132.html Successful start-up for Amakem] {{Webarchive|url=https://web.archive.org/web/20160304075628/http://www.biopharmaceutiques.com/en/article/126_2132.html |date=2016-03-04 }}</ref>

In 2009, Devgen and Monsanto broadened their collaboration, with Monsanto paying Devgen €20 million cash for broader rights to use Devgen's technology.<ref>Genetic Engineering and Biotechnology News. Apr 24, 2009. [http://www.genengnews.com/gen-news-highlights/monsanto-buys-broader-rights-to-devgen-technolgies-for-26-5m/53302895/?kwrd=Ag%20Bio Monsanto Buys Broader Rights to Devgen Technologies for $26.5M]</ref>

Devgen's nematicide [[Iprodione]], was approved in the Turkish market under the brandname Devguard for use on tomatoes and cucumbers in 2009,<ref>AgroNews Nov. 2, 2009 [http://news.agropages.com/News/NewsDetail---1862.htm Devgens nematicide Devguard receive regulatory approval in Turkey]</ref> was approved in Europe in 2010,<ref>AgroNews. Sep. 3, 2010 [http://news.agropages.com/News/NewsDetail---2826.htm EU approved iprodione’s use extension]</ref> and was approved in the US as Enclosure for use in commercial peanut production in May 2010.<ref>AgroNews. May. 24, 2010 [http://news.agropages.com/News/NewsDetail---2448.htm Devgen launches Enclosure nematicide in U.S.]</ref> Devgen has a method-of-use patents for the use of iprodine to kill nematodes.<ref>Reuters. May 8, 2009 [https://web.archive.org/web/20150101054832/http://www.reuters.com/article/2009/05/08/idUS193822+08-May-2009+MW20090508 2010 launch of Devgen's nematicide "Enclosure(R)" in the United States]</ref>

===Takeover by Syngenta===
In September 2012, [[Syngenta]] placed a bid of 403 million euros ($522 million) for the acquisition of Devgen as part of a wave of large ag companies buying biotech companies.<ref>Patrick Winters for Bloomberg News. Sep 21, 2012 [https://www.bloomberg.com/news/2012-09-21/syngenta-agrees-to-buy-biotech-rival-devgen-for-523-million-1-.html Syngenta to Buy Biotech Seedmaker Devgen for $523 Million]</ref><ref>Doug Macron for GenomeWeb. Sep 27, 2012 [https://www.genomeweb.com/rnai/syngenta-makes-518m-offer-buy-devgen-boost-access-rnai-tech-ag-bio Syngenta Makes $518M Offer to Buy Devgen, Boost Access to RNAi Tech for Ag-Bio]</ref> The offer came six months after the companies had signed an agreement under which Syngenta would have developed sprayable RNAi-based crop protection products based on Devgen's technology.<ref>Marie Daghlian for The Burrill Report. Sept 20, 2012. [http://www.burrillreport.com/article-syngenta_pushes_into_biologic_pest_control.html Syngenta Pushes into Biologic Pest Control]</ref> The rationale for Syngenta to acquire Devgen was stated by Syngenta spokeswoman Jennifer Gough as follows: "It's a very important expansion of our rice strategy, one of our eight key crops", she said. "We are also buying their competence in RNAi technology which will be relevant for us across a broad range of crops."<ref>Reuters Sep 21, 2012 [https://www.reuters.com/article/us-devgen-syngenta-idUSBRE88K07G20120921 Syngenta pays hefty premium to snap up Devgen]</ref> Devgen's shares were delisted from the NYSE in February 2013,<ref>Syngenta press release. February 27, 2013 [http://www.syngenta.com/global/corporate/en/news-center/news-releases/pages/130227.aspx Delisting of Devgen NV] {{Webarchive|url=https://web.archive.org/web/20160304114852/http://www.syngenta.com/global/corporate/en/news-center/news-releases/pages/130227.aspx |date=2016-03-04 }}</ref> and the acquisition was completed in December 2013.<ref>The Hindu. December 15, 2013. [http://www.thehindubusinessline.com/companies/syngenta-completes-acquisition-of-devgen/article5462422.ece Syngenta completes acquisition of Devgen]</ref>

== References ==
{{Reflist|2}}

{{Agriculture footer}}

[[Category:Genetic engineering and agriculture]]
[[Category:Multinational companies]]
[[Category:Seed companies]]
[[Category:Biotechnology companies of Belgium]]
[[Category:Agricultural organisations based in Belgium]]
[[Category:Companies based in Ghent]]

DevGen - Revision history

imported>Mat0329Lo: #suggestededit-add-desc 1.0