Research Triangle Park, North
Carolina
November 6, 2003
Athenix Corporation,
a leading biotechnology company developing high-value,
bio-industrial products for the Agricultural and Chemical
Industries using genetic traits from microbes, announced a
strategic collaboration with Eden Enterprise, Inc., a leading
breeder and supplier of corn seed.
The two
companies will bring newly developed traits from Athenix to the
market in corn hybrids developed by Eden. The broad
collaboration includes product development and registration. In
addition, Athenix will receive multi-year research funding and
substantial downstream value share. Eden will market the
co-developed corn hybrids using their established industry
channels. Financial terms were not disclosed.
"We are
very pleased to work with Eden Enterprise and to have access to
their outstanding corn lines," said Mike Koziel, President and
CEO of Athenix. "The combination of Eden's excellent germplasm
with our innovative traits will provide growers with corn
hybrids that have superior yield and quality."
"We are
focused on products and the partnership with Eden is an
essential component of our business strategy to gain market
access in key crops," added Gregory Lewis, Vice President of
Business Development for Athenix. "This partnership leads to a
significant competitive advantage in creating commercially
valuable corn seed."
Harry
Stine, President of Eden Enterprise, said: "We are excited about
our new partnership with Athenix. We are certain that this
collaboration will further strengthen our ability to deliver
innovative products to our customers."
Athenix is a leading biotechnology company developing
innovative, high-value, bio-industrial products for the
Agricultural and Chemical businesses using genetic traits from
microbes. These traits are used to develop enhanced plants,
microbes, enzymes, and processes for a variety of industry
sectors. Athenix is focused on two major market opportunities:
1) the discovery of genes and proteins for novel input traits
(such as insect resistance, nematode resistance and herbicide
tolerance), and their use to develop transgenic plants for the
Agricultural Chemical and Seed Industries; and 2) the discovery
of genes and proteins for improved bioconversion in the
Chemical, Alternative Energy and Animal Feed Industries.
Eden
Enterprise, Inc, located near
Adel,
Iowa,
is a research and development company specializing in hybrid
corn, and is a leading supplier of genetics to the seed
industry. |