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Bayer to invest $10m in Israeli agritech through Trendlines

Staff writer ▼ | April 20, 2016
Bayer has signed an agreement to invest $10 million in agricultural ventures in partnership with Trendlines, an Israeli investment company dealing in medical equipment and agricultural technologies.
Development   Trendlines will help Bayer spread in Israel
Under the agreement, Trendlines will manage the investments in the early stages and raise additional capital for the companies.

The joint fund will focus primarily on development of seeds and plant protection, and invest mainly in early stage companies, although it can also consider investments in companies at a later stage. The fund will not invest in Trendlines' existing portfolio.

This model of cooperation is becoming increasingly popular among international corporations. Roche invested in Israel through the Pontifax venture capital fund, Novartis is currently looking for investments together with BiolineRX, and now Bayer is doing it with Trendlines.

Bayer's global leadership extends to pharmaceuticals, veterinary medicine, and agriculture. The company already has a number of activities related to Israel.

Bayer has a number of R&D centers in Israel, and seeds production business in the fields of Israeli growers amounting to several million dollars in payments to the growers.

According to Bayer Israel managing director Tomer Feffer, the seeds grown in Israel account for 10% of all the seeds sold by Bayer at certain times and for specific strains.

Bayer also cooperates with agricultural companies Evogene and Kaima Organic Farm.

In the pharmaceutical sector, Bayer has a cooperation agreement in cancer drug development with Israeli company Compuge, a long-standing development agreement with Medgenics to develop an implant that emits protein drugs into the body, and a joint development agreement with Israeli developer of products for skin diseases Foamix Pharmaceuticals.

Trendlines has founded two incubators in Israel: one for medical devices and one for agriculture. Last year, Trendlines held its IPO on the Singapore Stock Exchange, after giving up on its attempt to hold an IPO on a Canadian stock exchange. Trendlines' market cap is $84 million.