Chemicals producer DuPont has agreed to acquire US-based microbiome technology developer Taxon Biosciences for an undisclosed amount in a deal that provides an exit to oil and gas companies BP and ConocoPhillips.
Founded in 2000, Taxon produces microbial genomics technology for use in the field of agriculture, energy and health sciences. DuPont will use the company’s microbial consortia and microbial genomics products to boost its seed treatment, foliar and soil application product range.
BP’s corporate venturing unit, BP Ventures, co-led the company’s $4m series A round in 2013 with venture capital firm Formation 8, according to AgFunder News, while ConocoPhillips’ Technology Ventures unit, property developer LeFrak, Solera Capital, and founding investor Molly Ashby.