Top firm advises on biotech acquisition
Top firm advises on biotech acquisition by global livestock company
Revolutionary biotech company, Engender Technologies has been acquired by international leader in livestock breeding with operations in New Zealand.
Engender has developed unique cell sorting technology with the potential to replace flow cytometry in a number of applications. Essentially helping to determine livestock genders for artificial insemination, it is a significant innovation for the trillion-dollar global livestock market.
MinterEllisonRuddWatts acted for Engender on the acquisition, having built an in-depth understanding of the business’s drivers through advising the start-up since its establishment in 2011 by the University of Auckland and Pacific Channel.
Corporate Partner Neil Millar led the firm’s deal team which assisted Engender to negotiate the terms of an offer that was made to shareholders.
"This acquisition offers enormous opportunity for the Engender team to work with a leading international company within the livestock industry, helping to fast track the technology to revolutionise the dairy industry in New Zealand, and around the world," says Neil Millar.
"We are delighted to have worked with Engender on this exciting deal, and be part of the team’s innovation journey.
"We have seen innovation in New Zealand companies develop rapidly in the past 10 years, and it shows no signs of slowing, especially in the agri space. This is generating strong interest in solid, innovative Kiwi businesses from overseas investors."
The MinterEllisonRuddWatts team included Partner Jeremy Muir and senior associates Elena Kim, Marilyn Mrkusich and Liz Rowe.