Months after informing state officials of plans to potentially lay off all employees, an agriculture-focused biotech in Research Triangle Park has secured a deal to sell its assets.
Certis Biologicals of Maryland has acquired the assets from AgBiome, including the company's lead commercial products, two fungicides called Howler and Theia. The companies did not disclose the financial details of the transaction.
The deal follows AgBiome in October informing the North Carolina Department of Commerce of its plans to potentially lay off 123 employees from its operations on T.W. Alexander Drive. The company, led by co-CEOs Scott Uknes and Eric Ward, anticipated these changes would be permanent.
The company filed the notice with state officials as it struggled to raise capital in what AgBiome described in October as "an extremely challenging VC and private equity market." The company had been trying to raise money since early summer 2023, and while investors showed interest, AgBiome needed a lead investor to set the terms for the financing, Uknes told the Triangle Business Journal in late October.
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