Origin Agritech and BCTID to Establish Biotech Joint Venture
JUNE 6, 2019
The Chinese agriculture technology and rural e-commerce company Origin Agritech has entered into a Cooperation Framework Agreement with Beijing Changping Technology Innodevelop Group (BCTID) to establish a joint venture focused on the commercialisation of genetically modified maize seed technologies. Under the agreement, Origin will contribute its Origin Life Science Center facility in Beijing, along with two maize traits, to the joint venture with BCTID providing the joint venture with RMB204 million. Both companies will hold approximately equal stakes in this venture. This follows on from a number of joint ventures which Origin established in 2018 (see AgbioNews Dec 20, 2018).