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Thierry Bogaert

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Thierry Bogaert
Born1960
NationalityBelgian
EducationGhent University
University of Manitoba (MSc)
University of Cambridge, MRC Laboratory of Molecular Biology (PhD)
OccupationGeneticist, business executive
CompanyDevgen
TitleFounder, managing director and chief executive officer of Devgen (1997 to 2013)

Thierry Bogaert (born 1960) is a Belgian geneticist and businessman who founded the Ghent agricultural biotechnology company Devgen in 1997 and led it as managing director and chief executive officer for its whole existence as an independent company, until its acquisition by Syngenta for about €403 million in a takeover bid announced in September 2012 and completed in 2013.[1][2][3]

Before entering business, Bogaert was a developmental geneticist. He studied at Ghent University and the University of Manitoba, earned a doctorate for work at the Medical Research Council's Laboratory of Molecular Biology in Cambridge, England, where he was first author of a paper identifying a Drosophila cell surface protein as a member of the integrin family, and later held faculty posts at the same laboratory and at Ghent University's medical faculty working on the nematode worm Caenorhabditis elegans.[4][5] Devgen grew out of an industry collaboration with his academic laboratory and began as a drug and pesticide discovery company built on the industrial use of C. elegans and RNA interference.[4][6]

Under Bogaert, Devgen raised about €37 million from venture capital investors in its first three years, took research partnerships with pharmaceutical and agrochemical groups including Janssen Pharmaceutica, FMC, Sumitomo, Monsanto and Pioneer, and listed on Euronext Brussels in June 2005 in a €30 million initial public offering.[7][8] From 2007 he moved the company away from drug discovery and into seeds: it bought Monsanto's hybrid rice, sunflower, sorghum and pearl millet businesses in South Asia and the Philippines for about US$26 million, closed its pharmaceutical division at the end of 2008, and built a hybrid seed business in India, Indonesia and the Philippines alongside a nematicide sold in Turkey and introduced in the United States.[9][2][10]

Syngenta offered €16 a share for the company in September 2012, a premium of about 70 percent to the previous closing price, and took 94.1 percent of the shares when the offer settled on December 17, 2012. Bogaert stayed on as chief executive and as a director on the board reconstituted under Syngenta's chief operating officer, Davor Pisk. Devgen was delisted from NYSE Euronext Brussels in February 2013.[3][11][12]

Early life and education

Devgen's corporate filings give Bogaert's year of birth as 1960.[2] He graduated from Ghent University in Belgium and then received a Master of Science degree from the University of Manitoba in Canada.[1][2] He took his doctorate in Drosophila developmental genetics at the Medical Research Council's Laboratory of Molecular Biology (MRC-LMB) in Cambridge, England. Devgen's 2011 annual report says the PhD was awarded by the University of Cambridge.[4][13]

His doctoral work at the LMB looked at how muscle cells attach to their surroundings in the fruit fly embryo. In a paper in Cell in December 1987, Bogaert, as first author, with Nicholas Brown and Michael Wilcox, showed that the Drosophila position-specific antigen 2 (PS2), a cell surface glycoprotein complex, is an invertebrate member of the integrin family of fibronectin receptors. The paper found the PS2 alpha subunit to be 1,394 amino acids long, restricted to mesoderm early in development and apparently involved in muscle attachment.[5] A second Cell paper in February 1989, with Maria Leptin, Ruth Lehmann and Wilcox, examined the function of the PS integrins during Drosophila embryogenesis.[14]

Academic career

After his doctorate Bogaert moved from the fruit fly to the nematode C. elegans and held faculty positions at the MRC-LMB in Cambridge and later in the Department of Medical Protein Chemistry of Ghent University's medical faculty.[4][1] His research stayed with the genetics of muscle positioning and attachment. A 1991 paper in Development with P. Y. Goh of the National University of Singapore identified and characterised mutants in the mup-1 gene, which the authors found was needed both to position the body wall muscle attachments of the early C. elegans embryo and to keep those muscles attached to the hypodermis until the cuticle formed.[15] A 1996 study in the Journal of Cell Biology by researchers at the University of Pennsylvania, with Bogaert as last author, showed that a related gene, mup-2, encodes troponin T and is needed for muscle contraction, sarcomere organisation and cell positioning in the worm.[16]

His academic publications continued after he founded Devgen. A 2002 paper in Development, written with colleagues at Ghent University and the Flanders Interuniversity Institute for Biotechnology (VIB), with Bogaert as last author, described the C. elegans gene unc-53 and its role in the longitudinal migration and outgrowth of muscles, axons and excretory canals.[17] Scientists from his company published with him on the human counterpart of the C. elegans engulfment gene ced-6, which a 1999 paper in Current Biology found specifically promotes the uptake of apoptotic cells by phagocytes.[18]

Career

Founding Devgen (1997 to 1999)

Devgen NV was incorporated on September 10, 1997.[13] The company's own account of its management says Bogaert founded it following an industry collaboration with his academic laboratory.[4] At its launch the company was financed by the venture capital firms Abingworth and GIMV, which invested €7.6 million in 1997 and 1998.[7] Its scientific base was the use of C. elegans as a whole-animal model: the company ran large-scale target identification experiments on the worm, used a comparative genomics tool to find the human counterparts of the genes it selected, and then built high-throughput screens against those targets for drug and pesticide discovery.[7] Its first corporate partnership, a two-year target discovery collaboration with Janssen Pharmaceutica, was signed in 1998.[7]

Bogaert held the chief executive role from the start, and the company's later governance documents describe him as "founder, managing director, Chief Executive Officer (CEO) since 1997".[19] In February 1999 Bogaert personally subscribed for 500,000 class C shares in a capital increase in which a number of employees also took shares.[13] In October 1999 the company closed a €23 million private placement from existing and new investors, after which its investor base included the venture capital groups Abingworth, Advent, Biotech Fund Flanders, GIMV, Life Sciences Partners and Rendex and the institutions KBC, ING (through BBL and De Vaderlandsche) and Mercator Noordstar. It then had 50 staff, two corporate partners and research and licensing agreements with 12 research institutes in the United States and Europe, and had filed or licensed 16 patent families.[20] Bogaert said at the time that the money would let the company "continue identifying lead compounds in our own in-house disease projects, while making our technology platform available to corporate partners", and that interest was growing in using C. elegans to find the molecular targets of active compounds and to screen against targets that could only be tested in a complex biological setting.[20] Stephen Bunting of Abingworth was then chairman.[20]

Drug and crop protection discovery (2000 to 2005)

A further €6.3 million was raised from Polytechnos and Capricorn in 2000, bringing private funding since the start to €37 million.[7] In its early years the company paired a technology-licensing business, in which partners paid research fees, milestones and potential royalties, with in-house programmes whose results it intended to keep and partner later.[21] Agricultural partners included FMC, with which it signed insecticide discovery agreements in 1999 and 2000 and a five-year extension in 2001, and later Sumitomo, Syngenta and DuPont. On the pharmaceutical side Genentech and Merck followed Janssen. A 2004 study of the Flemish biotechnology cluster put the company's partnership revenues to that point at €23 million and its government grants from 1997 to 2003 at €6.3 million, most of it from the Flemish innovation agency IWT.[7]

The same study recorded that the balance of the company's activity was shifting from pharmaceuticals towards agriculture, from about 30 to 70 in one year to about 40 to 60 the next, with a projected even split after that. The company explained that its worm technology transferred readily to agricultural biotechnology, which had become profitable, while drug discovery was slower and riskier, but that it was keeping its pharmaceutical work because of its larger long-term potential.[7] By 2001 Bogaert led a senior team that included Robin Brown as chief scientific officer and Hilde Windels, who had joined at the end of 1998, as chief financial officer.[4]

In March 2004 Devgen moved into a new 6,000 square metre research building on the same research park in Ghent, about 80 percent of it laboratory space. Bogaert called the project "a key strategic point for the company", saying that as it grew its discovery work and entered new collaborations "the new facilities are an important key to success". The company then employed almost 100 people and was organised into an agriculture unit working on pest control and a healthcare unit working on targets and lead chemistry for metabolic disorders such as obesity and diabetes.[6] It also opened a subsidiary in Singapore.[21]

Initial public offering (2005)

Devgen's initial public offering on Euronext Brussels was priced in June 2005 at €7.50 a share. The company issued 4,000,000 new shares, raising €30 million; the offering was 36 percent oversubscribed, with demand from both Belgian retail investors and European institutions exceeding their allocations. KBC Securities was lead manager, and trading began on June 7, 2005, leaving 13,863,420 shares outstanding.[8] Bogaert, described in the announcement as founder and CEO, said: "We are pleased that so many retail and institutional investors share our excitement about Devgen's track record and future projects. Together with the entire Devgen team we will continue the diligent execution of our growth strategy by further building on our three businesses."[8] The three businesses were biotech crop protection products, agrochemicals against plant-parasitic nematodes, and preclinical drug candidates for diabetes, obesity and arrhythmia.[8]

The company's first annual brochure as a listed company, signed by Bogaert and the chairman Pierre Hochuli, said the company had raised €71 million since its incorporation, €36.5 million in four private equity rounds and €34.5 million in the IPO, and employed more than 100 people. The letter described 2005 as "a pivotal year" and set out the aim of moving "from a company that discovers and develops technology to a company that delivers valuable proprietary products", while continuing "to carefully manage our cash burn".[21]

Rice, seeds and the Monsanto agreements (2006 to 2007)

From 2005 Devgen began what it later called a fundamental redesign of hybrid rice, building an "accelerated rice breeding" programme with two breeding stations in Kenya, where it finished its first year of breeding trials in 2006.[22][10] In early 2007 the company signed a five-year research agreement and a five-year technology exchange agreement with Monsanto, under which each company could use the other's technology advances in its own crops, with Devgen taking rice and Monsanto taking crops such as corn, cotton and soybean.[23][22] The company expected the new research arrangement to bring about 50 percent more in annual research payments than its earlier Monsanto agreement. To carry out the rice plan it appointed John Mann, a hybrid rice breeder who had started RiceTec's hybrid programme, as head of rice breeding, and the World Food Prize laureate Gurdev Khush as senior adviser. The plan was to extend breeding to India and to develop proprietary hybrids for the Indian market that would carry its own biotech traits.[22]

Bogaert was a co-author, with Monsanto scientists and Devgen's Geert Plaetinck, of a 2007 paper in Nature Biotechnology which showed that feeding double-stranded RNA to several beetle species, notably the western corn rootworm, triggered RNA interference that could stunt and kill the larvae, and that corn plants engineered to express such RNAs suffered significantly less rootworm feeding damage in growth chamber tests.[24]

In September 2007 the company agreed to buy the assets of Monsanto's hybrid rice, sunflower, sorghum and pearl millet businesses in India, Pakistan and the Philippines for about US$26 million in cash. Monsanto India's chief executive, Sekhar Natarajan, said the crops would be better served by a company more focused on them. Bogaert said: "The acquisition of these seed assets, combined with Devgen's trait technology and seed business, will transform Devgen into a top tier seed and seed technology provider in major Asian crops. We have now completed the foundation of our trait and seed strategy."[9] The company also raised new equity twice in 2007, issuing 1,505,829 shares at €20.75 in February and 1,045,400 shares at €17.22 in October.[13]

Closure of the pharmaceutical division (2008)

In 2008 Bogaert narrowed the company to agriculture. The annual brochure for that year, signed by Bogaert and the chairman Remi Vermeiren, said that "substantial efforts were made in 2008 to divest Devgen's pharma division", but that "the deteriorating financial market thwarted this divestment process" and led to the decision to discontinue the pharmaceutical programmes.[25] The board decided on November 27, 2008 to dispose of the Human Therapeutics unit, and after a collective labour agreement was negotiated with the social partners the remaining 19 employees in the division were dismissed with effect from December 31, 2008. Those employees were allowed to keep exercising their 2005 warrants until 2012, with vesting accelerated.[2][26] The chief financial officer Hilde Windels, who belonged to the discontinued division, left during 2008, and Wim Goemaere, formerly the chief financial officer of VIB, later took the role.[2][13]

The same brochure quoted Bogaert describing the company's purpose: "Devgen's mission is to enable farmers to sustainably grow more food on less land, with less water, agrochemicals and labor."[25] It reported that the seed assets bought from Monsanto had been integrated, that an experienced management team had been hired for the Indian operations, that seed sales had reached the top end of targets, and that the hybrid rice business had been extended in 2008 from India to Indonesia, through an agreement with a large government-owned seed producer, and to the Philippines, where it set up a rice breeding station in the south of the country. The company then had offices in Ghent, Singapore, Hyderabad and Delaware and more than 200 employees.[25]

Hybrid rice and nematicides (2009 to 2012)

In April 2009, halfway through the 2007 agreements, Monsanto paid the company €20 million (about US$26.5 million) in cash for broader rights to its trait technology. Bogaert said the deal "strengthens our cash position without affecting Devgen's rights in its crops of interest and reinforces Devgen's ability to execute its downstream trait and seed business plan".[23] Devgen's nematicide, based on the active ingredient iprodione, was launched in the United States as Enclosure for commercial peanut production in May 2010 and sold in Turkey under the name Devguard.[27][28] In 2011 the company appointed Cheminova as distributor of Devguard for southern Europe, and in 2012 it received regulatory approval in South Africa for use of Devguard on potatoes.[10][29]

The core of Bogaert's strategy in these years was what the company called Next Generation Hybrid Rice (NGHR). In March 2012 the company reported that multi-location trials in India, the Philippines and Vietnam during the 2011 growing season had identified a substantial number of NGHR varieties with a yield advantage of more than 20 percent over the best conventional varieties and more than 10 percent over the best hybrid rice then on the market. Devgen argued that 20 percent was the threshold at which farmers in other crops had switched from conventional to hybrid seed.[10] Bogaert said the results were "a key achievement of the last twelve months" and that they gave "confidence that Devgen's varieties have the potential to be an important catalyst in driving the uptake of hybrid rice in India and Southeast Asia". He added that the existing seed business "nearly doubled in 2011".[10] In the 2011 shareholder letter, signed by Bogaert and Vermeiren, the company noted that hybrid seed accounted for only 3 percent of India's rice seed market, against 60 percent in China, and said it expected to introduce NGHR seed from 2014.[30]

By 2011 the company sold its seeds through more than 600 distributors and about 20,000 retailers in India, also distributed hybrid cotton seed licensed from a third party, and had subsidiaries in Singapore, Hyderabad, Yogyakarta, General Santos and Delaware, with more than 250 staff.[13][30] In April 2011 it raised €26.8 million in new equity. In June 2011 two investors who had become large shareholders joined the board: Van Herk Global Agri, represented by Aat van Herk, and Wouter de Ruiter, a former De Ruiter Seeds breeder. Bogaert and Vermeiren said they were "convinced their knowledge and many years of experience will contribute significantly to the Board and to the Company".[30][31]

On May 14, 2012 Devgen signed a six-year licence and research agreement with Syngenta on sprayable RNAi-based crop protection products, under which Syngenta paid €22 million upfront and €4.8 million a year to fund research. Bogaert called it "yet another major milestone for Devgen" that "bolsters our cash position and research activities". The company noted that its earlier out-licensing of the RNAi technology had concentrated on traits engineered into crops.[29][3]

Sale to Syngenta (2012 to 2013)

On September 21, 2012 Syngenta announced an all-cash offer of €16 a share for Devgen and for all its outstanding warrants, valuing the company at about €403 million (US$522 million). The price was a premium of about 70 percent to the previous day's close of €9.43 and above the year's peak of €10.18.[3][32] A Syngenta spokeswoman called the deal "a very important expansion of our rice strategy" and said Syngenta was also buying Devgen's RNAi competence.[3] Shareholders holding about 48 percent of the shares, including the Van Herk, Mariën, de Ruiter and Gimv interests, undertook to tender, and the board backed the offer unanimously.[3][28][33]

Bogaert said the offer "further confirms the value and achievements of Devgen's R&D, breeding and commercial activities in Belgium, Singapore, India, the Philippines and Indonesia". He congratulated "the team that built Devgen, by discovering new chemical and biotech crop protection solutions, by pioneering the next generation of hybrid rice and by building seed businesses in India and Southeast Asia", and said staff and management would help apply the company's technologies and products across Syngenta's global platforms.[34] The French financial news service Cercle Finance reported that Bogaert welcomed the bid as recognition of the expertise the group had built up.[35]

The board's memorandum of reply was approved together with Syngenta's prospectus by the Belgian Financial Services and Markets Authority on November 8, 2012. The acceptance period ran from November 14 to December 5, 2012.[28] Syngenta came out of the initial acceptance period with 94.1 percent of Devgen, and payment was made on December 17, 2012. That day the non-executive directors resigned after co-opting a majority of Syngenta nominees. The new nine-member board, chaired by Syngenta's chief operating officer Davor Pisk, kept Bogaert, through Thierry Bogaert BVBA, as chief executive and director, alongside five Syngenta executives and three independent directors.[11] Bogaert said: "Devgen management and staff are eager to combine the company's first class technologies and seeds with Syngenta's platform and commercial reach, leading to better offers for farmers. I very much welcome the new team of high profile and experienced directors and look forward to working with them now that the company is entering an exciting new phase."[11]

Syngenta then ran a squeeze-out from February 6 to February 26, 2013, by which time 98.32 percent of the shares had already been tendered, and the company was delisted from NYSE Euronext Brussels.[12] In December 2013 Syngenta India's vice-president K. C. Ravi said the acquisition was complete and the two organisations were being integrated, and called it the biggest in Syngenta's history.[36]

Leadership and management style

Company descriptions credited Bogaert with being "actively involved with both the Crop Protection and Human Therapeutics businesses" and "instrumental in setting strategic direction and forging key collaborations in both areas".[1] Bogaert's approach in the company's early years was a dual business model: Devgen partnered some technologies and product opportunities early to bring in revenue, and kept others in house for later partnering. The 2005 annual brochure described this as a model "to balance revenue generation and investment in its own products", and the shareholder letter he co-signed spoke of "carefully balancing the risks which are associated with pioneering activities".[21] The 2004 cluster study recorded the company's stated preference, as it grew, for paying academic laboratories fees for service or swapping services rather than paying researchers' salaries, for working with consultants and private companies, and for bringing essential know-how in house by recruiting specialists.[7]

His later strategy relied on recruiting outside specialists for businesses the company had not run before. For the rice programme Bogaert brought in the breeder John Mann and the adviser Gurdev Khush.[22] For the agrochemical business Devgen hired Stefan Frey, a former Bayer general manager and FMC area director, as chief operating officer and head of the nematicide unit, and for India it hired a separate local management team.[2][25] The 2008 brochure stressed that the company had been "able to attract substantial talent on 4 continents: in the US, Africa, Southeast Asia and Europe".[25]

Bogaert's decision to leave drug discovery was framed as a matter of focus. The 2008 brochure presented the closure of the pharmaceutical division as part of a previously announced plan to concentrate on agriculture, and quoted Vermeiren as saying that with "its substantial capabilities focused on agrotech, Devgen is now well positioned for profitable growth".[25]

Under Devgen's governance rules the chief executive was appointed and could be removed by the board, ran the company day to day within a strategy and budget approved by the board, took the final decision within executive management, and was responsible for internal controls and for the preparation of the financial statements.[2] Bogaert was the only executive member of the board.[13] Board minutes reproduced in the 2008 annual report show him following Belgium's conflict of interest procedure, declaring his interest and leaving the meeting, when the board voted on a proposal to grant him 100,000 warrants in June 2008. The statutory auditor later reported that he had not accepted those warrants.[2]

Major deals and strategic decisions

  • 1997 to 2000: venture financing. Abingworth and GIMV invested €7.6 million at the launch in 1997 and 1998, a syndicate including ING, KBC and Life Sciences Partners put in €23 million in 1999, and Polytechnos and Capricorn added €6.3 million in 2000.[7][20]
  • 1998 to 2004: research partnerships. These included collaborations with Janssen Pharmaceutica (1998), FMC (1999, 2000 and 2001), and later Sumitomo, Genentech, Syngenta, DuPont and Merck, worth €23 million in research revenue by 2004.[7]
  • June 2005: IPO. The company raised €30 million at €7.50 a share on Euronext Brussels.[8]
  • February 2007: Monsanto technology exchange. Five-year research and technology exchange agreements gave the company access to Monsanto's rice trait technology.[22][23]
  • September 2007: Monsanto seed assets. The company bought Monsanto's rice, sunflower, sorghum and pearl millet businesses in India, Pakistan and the Philippines for about US$26 million.[9]
  • November and December 2008: exit from pharmaceuticals. After an attempted sale of the division failed, the company closed its Human Therapeutics unit.[25][2]
  • April 2009: Monsanto rights extension. Monsanto paid €20 million for broader rights to the company's trait technology.[23]
  • April 2011: equity raise. The company raised €26.8 million in new equity.[30]
  • May 2012: Syngenta RNAi licence. A six-year agreement brought Devgen €22 million upfront and €4.8 million a year.[29]
  • September 2012 to February 2013: sale to Syngenta. Syngenta's €16 a share offer valued Devgen at about €403 million.[3][12]

Financial and market performance

Headcount grew from 50 in 1999 to almost 100 in 2004, more than 100 at the end of 2005, more than 200 in 2008 and more than 250 by 2011.[20][6][21][25][30] Measured as average full-time equivalents in continuing activities, the workforce was 248 in 2009, 267 in 2010 and 232 in 2011.[13]

The move into seeds changed where the company's revenue came from. Revenue from continuing operations was €8.9 million in 2006, €7.3 million in 2007 and €9.3 million in 2008, when sales of goods rose to €6.1 million from €0.3 million the year before while research service income fell. The net loss widened from €9.5 million in 2006 and €13.9 million in 2007 to €25.1 million in 2008, the year the pharmaceutical division was closed.[2] Total revenue then rose to €18.5 million in 2009, €20.7 million in 2010 and €25.5 million in 2011, with net losses of €8.7 million, €7.1 million and €7.0 million in those three years.[13] In 2011 product sales were €15.1 million, nearly double the 2010 figure. Research income fell 16 percent after the five-year Monsanto research agreement ended, and the operating loss was €6.3 million. Cash, including restricted cash, rose from €28.8 million at the end of 2010 to €44.3 million at the end of 2011.[10][30]

The shares were floated at €7.50 in 2005. New shares were issued at €20.75 in February 2007 and at €17.22 in October 2007.[8][13] The stock closed at €9.43 on September 20, 2012, the day before Syngenta's €16 offer was announced, and rose about 68 percent to €15.81 in early trading after the announcement.[3][35]

Compensation and shareholding

Bogaert provided his services through his management company, Thierry Bogaert BVBA, which held the managing director and chief executive mandates.[1][33] His management contract could be ended on 15 months' notice or with an indemnity equal to 15 months of fixed pay. In 2008 the company did not disclose the chief executive's pay individually, departing from the Belgian corporate governance code on the grounds of market practice and privacy.[2] By 2011 it did: his total remuneration that year was €737,000, made up of €359,000 fixed pay, €24,000 in expenses and allowances, €215,000 in cash bonus (payable over 2012, 2013 and 2014) and €140,000 in warrants.[13] He received no remuneration in his capacity as a director.[13]

A new management services agreement, dated June 19, 2012, brought his contract in line with Belgian rules for cases where variable pay could exceed a quarter of total pay. It spread his bonus over performance periods of one, two and three years, with the cap rising from 50 percent of fixed pay in 2012 to 75 percent in 2013 and 100 percent from 2014. In the event of a change of control, deferred bonuses of up to €557,668 and a grant of 32,311 warrants at €5.43 would be accelerated.[33] The board, applying the conflict of interest article of the Belgian Companies Code, also approved a success fee of €4.03 million, conditional on the Syngenta bid closing and on shareholder approval, for key managers, employees and consultants. Two-thirds of the fee was payable to Bogaert and one-third to a small group of key managers. The board said the fee recognised past contributions, particularly the build-up of the affiliates' business in Southeast Asia, and that Syngenta had not been involved in the decision.[33]

At the time of the bid, Thierry Bogaert BVBA held 47,732 shares, 0.20 percent of the total. Bogaert also held warrants from plans dating from 2005 to 2012, including 300,000 "Warrants CEO 2009" exercisable at €6.65 and 100,000 warrants from 2005 exercisable at €9.49.[33]

Board memberships and outside roles

Bogaert, through Thierry Bogaert BVBA, sat on Devgen's board as its only executive director throughout the company's time as an independent listed company. The chairmen he served under were Stephen Bunting of Abingworth in 1999, Pierre Hochuli at the time of the IPO, and Remi Vermeiren from at least 2008 until the Syngenta takeover.[20][21][2][13] After Syngenta took control in December 2012 he remained on the reconstituted board chaired by Davor Pisk.[11]

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 <ref>"Management".Devgen.2006.Retrieved October 29, 2026.</ref>
  2. ↑ 2.00 2.01 2.02 2.03 2.04 2.05 2.06 2.07 2.08 2.09 2.10 2.11 2.12 <ref>"Annual Report 2008".Devgen NV.May 2009.Retrieved October 29, 2026.</ref>
  3. ↑ 3.0 3.1 3.2 3.3 3.4 3.5 3.6 3.7 <ref>de Sa'Pinto, Martin."Syngenta pays hefty premium to snap up Devgen".September 21, 2012.Retrieved October 29, 2026.</ref>
  4. ↑ 4.0 4.1 4.2 4.3 4.4 4.5 <ref>"Corporate team".Devgen.2001.Retrieved October 29, 2026.</ref>
  5. ↑ 5.0 5.1 <ref>"The Drosophila PS2 antigen is an invertebrate integrin that, like the fibronectin receptor, becomes localized to muscle attachments".Cell.Vol. 51, no. 6.pp. 929-940.December 24, 1987.Retrieved October 29, 2026.</ref>
  6. ↑ 6.0 6.1 6.2 <ref>"Devgen moves into its new facilities".Devgen NV.March 1, 2004.Retrieved October 29, 2026.</ref>
  7. ↑ 7.00 7.01 7.02 7.03 7.04 7.05 7.06 7.07 7.08 7.09 <ref>"Biotech Cluster Project: Biopharmaceutical Network Dynamics in Flanders and Sector Competitiveness".Vlerick Leuven Gent Management School and Ghent University.June 2004.Retrieved October 29, 2026.</ref>
  8. ↑ 8.0 8.1 8.2 8.3 8.4 8.5 <ref>"Devgen raises € 30 million in successful IPO".Devgen NV.June 5, 2005.Retrieved October 29, 2026.</ref>
  9. ↑ 9.0 9.1 9.2 <ref>"Devgen to Acquire Rice, Sunflower, Sorghum and Pearl Millet Businesses in India and Other Asian Countries From Monsanto".Monsanto Company.September 2007.Retrieved October 29, 2026.</ref>
  10. ↑ 10.0 10.1 10.2 10.3 10.4 10.5 <ref>"Devgen reports 2011 Full Year Results".Devgen NV.March 8, 2012.Retrieved October 29, 2026.</ref>
  11. ↑ 11.0 11.1 11.2 11.3 <ref>"Devgen's board of directors modified to reflect Syngenta's majority shareholdership".Devgen NV.December 17, 2012.Retrieved October 29, 2026.</ref>
  12. ↑ 12.0 12.1 12.2 <ref>"Delisting of Devgen NV".Syngenta International AG.February 27, 2013.Retrieved October 29, 2026.</ref>
  13. ↑ 13.00 13.01 13.02 13.03 13.04 13.05 13.06 13.07 13.08 13.09 13.10 13.11 13.12 <ref>"Annual Report 2011".Devgen NV.April 27, 2012.Retrieved October 29, 2026.</ref>
  14. ↑ <ref>"The function of PS integrins during Drosophila embryogenesis".Cell.Vol. 56, no. 3.pp. 401-408.February 10, 1989.Retrieved October 29, 2026.</ref>
  15. ↑ <ref>"Positioning and maintenance of embryonic body wall muscle attachments in C. elegans requires the mup-1 gene".Development.March 1991.Retrieved October 29, 2026.</ref>
  16. ↑ <ref>"Developmental genetic analysis of troponin T mutations in striated and nonstriated muscle cells of Caenorhabditis elegans".Journal of Cell Biology.March 1996.Retrieved October 29, 2026.</ref>
  17. ↑ <ref>"unc-53 controls longitudinal migration in C. elegans".Development.Vol. 129, no. 14.pp. 3367-3379.July 2002.Retrieved October 29, 2026.</ref>
  18. ↑ <ref>"The human homologue of Caenorhabditis elegans CED-6 specifically promotes phagocytosis of apoptotic cells".Current Biology.November 18, 1999.Retrieved October 29, 2026.</ref>
  19. ↑ <ref>"Board of directors".Devgen.2005.Retrieved October 29, 2026.</ref>
  20. ↑ 20.0 20.1 20.2 20.3 20.4 20.5 <ref>"Devgen raises EUR 23 million in private placement".Devgen.October 22, 1999.Retrieved October 29, 2026.</ref>
  21. ↑ 21.0 21.1 21.2 21.3 21.4 21.5 <ref>"Annual Brochure 2005".Devgen NV.2006.Retrieved October 29, 2026.</ref>
  22. ↑ 22.0 22.1 22.2 22.3 22.4 <ref>"Devgen moves ahead in its rice business plan, appoints management and senior advisor for its rice unit".Devgen via Marketwire.February 7, 2007.Retrieved October 29, 2026.</ref>
  23. ↑ 23.0 23.1 23.2 23.3 <ref>"Monsanto Buys Broader Rights to Devgen Technolgies for $26.5M".April 24, 2009.Retrieved October 29, 2026.</ref>
  24. ↑ <ref>"Control of coleopteran insect pests through RNA interference".Nature Biotechnology.November 2007.Retrieved October 29, 2026.</ref>
  25. ↑ 25.0 25.1 25.2 25.3 25.4 25.5 25.6 25.7 <ref>"Share our focus on growth: Annual Report 08".Devgen NV.2009.Retrieved October 29, 2026.</ref>
  26. ↑ <ref>"Devgen NV Completes the Final Closure of its Pharma Division, Lays off 19 Employees".BioSpace.December 30, 2008.Retrieved October 29, 2026.</ref>
  27. ↑ <ref>"Devgen launches Enclosure nematicide in U.S.".AgroPages.May 24, 2010.Retrieved October 29, 2026.</ref>
  28. ↑ 28.0 28.1 28.2 <ref>"Syngenta announces commencement of tender offer for Devgen".Devgen NV.November 13, 2012.Retrieved October 29, 2026.</ref>
  29. ↑ 29.0 29.1 29.2 <ref>"Devgen NV: Business update".Devgen NV.May 15, 2012.Retrieved October 29, 2026.</ref>
  30. ↑ 30.0 30.1 30.2 30.3 30.4 30.5 <ref>"Annual brochure 2011: Shaping the field of hybrid rice".Devgen NV.2012.Retrieved October 29, 2026.</ref>
  31. ↑ <ref>"Devgen strengthens its Board of Directors".Devgen NV.June 1, 2011.Retrieved October 29, 2026.</ref>
  32. ↑ <ref>"Syngenta Makes $518M Offer to Buy Devgen, Boost Access to RNAi Tech for Ag-Bio".September 27, 2012.Retrieved October 29, 2026.</ref>
  33. ↑ 33.0 33.1 33.2 33.3 33.4 <ref>"Memorandum of reply of the board of directors of Devgen NV".Devgen NV.November 2012.Retrieved October 29, 2026.</ref>
  34. ↑ <ref>"Devgen Receives a Tender Offer from Syngenta".Technology Networks.Retrieved October 29, 2026.</ref>
  35. ↑ 35.0 35.1 <ref>"Devgen : Opa de syngenta à 16 euros, prime de 70%".Cercle Finance via BFM Bourse.September 21, 2012.Retrieved October 29, 2026.</ref>
  36. ↑ <ref>"Syngenta completes acquisition of Devgen".December 15, 2013.Retrieved October 29, 2026.</ref>
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