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Biotools to Form Joint Venture with Indian Agricultural Products Firm

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – The Indian agriculture products company Kilpest and Spanish lab and research technologies company Biotools B&M Labs have inked an agreement to start a joint venture to be based in India that will conduct research and development in the clinical, molecular biology, and ag-food areas.

Under the memorandum of understanding, Kilpest will have a 51 percent equity stake and Biotools will have a 49 percent stake in the joint venture.

The new venture will conduct R&D projects and will include a production facility. The aim is to develop and market products aimed at the growing Indian healthcare, R&D, and ag-food sectors, as well as serving as a base to distribute kits into other countries in the region.

Kilpest offers crop protection, public health, micro-nutrient, and fertilizer products, and it has a research facility in Bhopal and another biological research center.

Biotools, which also has a subsidiary in Brazil, provides molecular biology reagents in Europe and Latin America.

Specific financial terms of the agreement were not released.

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