Calyxt and Cibus reached merger agreement
US biotech firms Calyxt and Cibus have announced a merger to create a new crop gene editing organization under the common brand and leadership of Cibus. As follows from the agreement, upon completion of the transaction, Calyxt shareholders will own approximately 5% of the combined company.
The partners intend to join forces to develop new crop varieties with increased yields and resistance to pathogens, thereby reducing the use of mineral fertilizers and pesticides.
“Cibus and Calyxt have complementary technology platforms, and the merger provides an excellent opportunity to drive innovation,” said Michael Carr, Managing Director of Calyxt.
“We expect many countries to reconsider their attitude towards genetically modified crops in 2023, thus expanding the potential for gene editing in agriculture,” said Rory Riggs, Chairman of the Board of Directors of Cibus.