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BIOSYS SIGNS LETTER OF INTENT TO ACQUIRE AGRISENSE

 PALO ALTO, Calif., Feb. 9 /PRNewswire/ -- biosys (NASDAQ-NMS: BIOS) today announced the signing of a letter of intent to purchase AgriSense, based in Fresno, Calif. AgriSense was formed in 1988 as a joint venture between subsidiaries of Phillips Petroleum Co. (Provesta Corp.) and Dow Corning to commercialize insect detection, monitoring traps and other biological control technologies. The acquisition is expected to be completed by the end of March 1993, and includes the AgriSense European subsidiary, Biological Control Systems. Both divisions develop and market pheromone-based products for control of pests in high-value crops, retail, cockroach detection and stored products. biosys will compensate the partners with a combination of cash and common stock. Other terms of the transaction were not disclosed. The acquisition is subject to various contingencies, including completion of due diligence review and execution of a definitive purchase agreement.
 AgriSense has been commercializing products based on technologies contributed by the joint-venture partners. These include Phillips Petroleum's pheromone synthesis technology, which disrupts the mating behavior of insect pests, and Dow Corning's micro encapsulation/slow release technology which was developed for pheromone trap and lure applications.
 Insect pheromones in traps and for disruption of mating are predominately used for the non-toxic detection, monitoring, and control of insects in agricultural fields and orchards, as well as residential and industrial sites. Timely detection and monitoring allows the use of insect control measures at the optimum time and assists in the adoption of integrated pest management (IPM) practices aimed at minimizing the use of pesticides.
 "We were impressed by the market share that AgriSense has achieved in Europe and the patented technology available for manufacturing pheromone active ingredients," said Dr. Venkat Sohoni, biosys president and CEO. "This pest control method is environmentally responsible and complements our existing nematode-based biological insecticide products. The acquisition provides us with a European base for marketing, field research and distribution." Acquiring AgriSense would expand biosys product offerings beyond insect control to encompass detection and monitoring products for both commercial and consumer markets.
 biosys is a leader in the development and commercialization of biological pesticide products for the control of a wide range of insect pests. Using advanced science and technology, the company develops and manufactures environmentally safe and effective biological controls for agricultural and consumer markets. biosys, which holds in vitro manufacturing and formulation patents, has diversified its business into the development of baculovirus bioinsecticides and contract manufacturing services for biological pesticides. biosys shares are traded on the NASDAQ/National Market System under the stock symbol BIOS.
 -0- 2/9/93
 /CONTACT: Venkat S. Sohoni, president and chief executive officer, or Bruce G. Fielding Jr., senior vice president and chief financial officer, 415-856-9500, both of biosys/
 (BIOS)


CO: biosys; AgriSense ST: California IN: CHM SU: TNM

LD -- SJ009 -- 4452 02/09/93 08:17 EST
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Publication:PR Newswire
Date:Feb 9, 1993
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