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biosys ACQUIRES AGRISENSE

 PALO ALTO, Calif., May 11 /PRNewswire/ -- biosys (NASDAQ: BIOS) today announced completion of the acquisition of AgriSense, a Delaware general partnership -- formed in 1988 of which a subsidiary of Phillips Petroleum Company (ProVesta Corporation) and Dow Corning Enterprises, Inc. were general partners. The acquisition includes the wholly-owned AgriSense European subsidiary - Biological Control Systems and the U.S. operations headquartered in Fresno, Calif. Both divisions of AgriSense develop and market phermone-based products for the detection and monitoring of cockroaches and insect pests in high value crops and stored products. Other products and technologies include those that disrupt the mating of insect pests which attack rice and cotton crops.
 Consideration for the transaction was $3,500,000 in cash and 400,000 shares of biosys common stock, and may include additional shares to be issued under certain circumstances.
 AgriSense is commercializing products based on Phillips Petroleum's phermone synthesis technology and Dow Corning's micro encapsulation/slow release technology developed for phermone traps and lure applications. The product range provides for non-toxic, environmentally compatible detection, monitoring and control of insects in agricultural fields and orchards as well as in residential and industrial sites. Integrated pest management regimes which minimize the use of chemical pesticides are made more effective through the use of such monitoring techniques which assist in timing and in minimizing the application of pesticides.
 "Growth of product revenues in Europe and the U.S. and patented technologies are attractive components of the business," said Dr. V.S. Sohoni, biosys' president and CEO. "We are enthusiastic about the synergy between existing biosys product lines and research to those of AgriSense and are excited by the prospects for the AgriSense business units."
 "The AgriSense joint venture between Phillips and Dow Corning has worked very well in putting together technologies and successfully developing a growing product line," said Dr. John Norell, AgriSense chairman. "The partners have supplied the resources and technology to bring the business this far and we feel that biosys will provide the strong support and direction to allow the business to grow and prosper."
 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- 5/11/93
 /CONTACT: Dr. Venkat S. Sohoni, president and CEO, or Bruce G. Fielding, Jr., Sr. V.P. and CFO, both of biosys, 415-856-9500/
 (BIOS)


CO: biosys ST: California IN: AGR CHM SU: TNM

TM -- NY008 -- 6833 05/11/93 08:02 EDT
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Publication:PR Newswire
Date:May 11, 1993
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