St. Jean-sur-Richelieu, Quebec,
and Research Triangle Park, North Carolina
January 10, 2003
DNA LandMarks, Inc.
and Paradigm Genetics,
Inc. (Nasdaq: PDGM) today announced they have entered into a
letter of intent comprising DNA Landmark's acquisition of
ParaGen, the plant genotyping business of Paradigm Genetics. The
ParaGen business covers marker discovery, marker-assisted
breeding and variety identification. The transaction is expected
to close in 30 days. Financial details were not disclosed.
DNA LandMarks is specialized in the development of molecular
breeding tools and related technologies for crops. Benoit S.
Landry, Ph.D., CEO, Managing Director and Founder of DNA
LandMarks, said, "The acquisition of ParaGen positions us as one
of the leading providers of plant genomics services worldwide.
The ParaGen business is the perfect complement of our existing
genetic mapping, map-based cloning and high throughput DNA
sequencing services. We are fully committed to continue
providing excellent services to all ParaGen customers and
others."
"Of the companies interested in purchasing ParaGen, we believe
that DNA LandMarks is the best one to continue providing
excellent service to ParaGen's customers and to deliver leading
integrated solutions to plant breeders and seed companies," said
Heinrich Gugger, Ph.D., President and CEO of Paradigm Genetics,
Inc. "This sale enables us at Paradigm to better focus our core
functional genomics platform on key agricultural partnerships
and programs, such as crop trait discovery and crop protection
research and development."
DNA LandMarks is specialized in DNA marker technologies and
high throughput genetic analysis of crops. DNA LandMarks offers
high quality technologies and tools for gene discovery and
provides high quality plant genotyping services to its customers
worldwide. DNA LandMarks is the Canadian affiliate of BASF Plant
Science, the plant biotechnology company of BASF. BASF Plant
Science coordinates an international research and technology
platform with seven sites in four countries in Europe and North
America.
Paradigm is a biotechnology company aiming to increase R&D
productivity by focusing its integrated suite of technologies on
the product development cycle, from target discovery to
subsequent enhancement of the safety and efficacy profiles of
development candidates in agriculture and human health. Paradigm
chooses a system biology approach to understand gene function in
the context of biological pathways, to develop assays and
biomarkers for molecular diagnostic solutions tailored
to the needs of our partners.
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