Symborg buys startup Glen Biotech and reinforces its position as an international leader in agricultural biotechnology

• With this acquisition, Symborg expands its catalog with technology from Glen Biotech centered around Beauveria bassiana 203, a fungus with high potential for pest control

• The current global market value of Beauveria bassiana is estimated around one billion dollars, and is expected to grow approximately 16% annually

The biotechnological company Symborg has announced the acquisition of Glen Biotech, a startup from the University of Alicante providing biocontrol solutions for agriculture. With this deal, Symborg is reinforcing its portfolio, as well as its leadership in the movement towards a more sustainable agricultural model. 

Using the technology from Glen Biotech, which is centered around the fungus Beauveria bassiana 203, Symborg will develop new products that provide farmers with the biological mechanisms to control pests, in line with the European Union’s Farm to Fork Strategy. The current global market value of Beauveria bassiana, according to a recent study published by Mnemonics Research Analysis, is estimated to be around one billion dollars and is expected to grow approximately 16% annually, reaching close to 2.5 billion dollars in 2027.

“With the acquisition of Glen Biotech, our growth continues thanks to our commitment to innovation, incorporating technology, knowledge, and talent, which are all strategic values of Symborg,” stated Jesús Juárez, founding partner and CEO of Symborg. “Our objective is to continue as leaders in the development of innovative and efficient solutions to increase sustainability in the agri-food chain.” 

The deal arrives at the height of both Symborg’s globalization phase and growth of product range, as it is working on the development of new solutions in biocontrol, which will be added to their catalog of 100% sustainable biostimulants and biofertilizers. This market is experiencing a clear positive trend, with global data demonstrating around 15% year-over-year growth for biostimulants and biofertilizers for agriculture. 

This acquisition strengthens the growth of the company, which was invested in by the Fondo Spain Omán, managed by MCH, in 2020. Last year, Symborg also inaugurated a new hydrolysis plant. Located on an industrial site stretching almost 10 acres in Alhama de Murcia in Spain’s Region of Murcia, its investment totaled 28 million euros (31.7 million dollars). The hydrolysis plant, designed in accordance with circular economy, zero waste, and energy efficiency measures, will prevent approximately 100 tons of CO₂ from entering the atmosphere per year. 

The transaction, whose price is undisclosed, has been overseen by Arcano Partners, who have validated the qualities and the potential of the company’s future, structuring a deal that is attractive to both parties. 

From left to right: Berenice Güerri, founding partner of Glen Biotech, and Jesús Juárez, founding partner and CEO of Symborg

Glen Biotech, a spin-off from the University of Alicante

The startup Glen Biotech emerged as a spin-off of the University of Alicante (Spain) in the year 2010 and is located in the Alicante Science Park. Their technology is centered around Beauveria bassiana 203, a fungus with a high potential for pest control and which plays an important role in the fight against the red palm weevil, a pest that primarily affects palm trees. In addition, the spin-off from Alicante is currently in the process of registering in Europe, the United States, and other countries in North and South America an active substance used in plant protection products to maintain healthy plants free of insects.  

Regarding the acquisition, Berenice Güerri, founding partner of Glen Biotech, pointed out that “Symborg is a world leader in biotechnology, and this deal demonstrates that there is a clear commitment in the sector to innovative and more environmentally-friendly solutions. Ultimately, we are living in a moment in which the industry is listening to the consumer of agricultural products, who is demanding that the food on his table is healthier and has had a smaller environmental impact.” 

ABOUT SYMBORG

Symborg is a biotechnological company and leader in the agricultural sector that helps farmers maximize their crop yields with minimal resources, contributing to more sustainable agriculture. Symborg develops, produces, and sells biostimulants, biofertilizers, and innovative biocontrol solutions for all types of crops and agricultural systems. Thanks to its commitment to R+D+i, Symborg has a commercial presence in more than 50 countries and 9 subsidiaries, located in Spain and Portugal, France, the United States, Brazil, Mexico, Chile, Peru, Turkey, and China.  

More information at www.symborg.com, Facebook, LinkedIn, Instagram, Twitter, and YouTube.