Burnaby, British Columbia and
Indianapolis, Indiana
September 29, 2004
Agrisoma Biosciences Inc.
("Agrisoma") and Dow
AgroSciences LLC ("Dow AgroSciences") announced today a
collaboration agreement to research, develop and commercialize
animal health products using Agrisoma's patented ACE System.
Under the terms of the agreement, Agrisoma will apply its gene
delivery and expression technology with Dow AgroSciences plant
systems. Financial details of the agreement, which include
upfront and milestone payments, research funding and royalties,
were not disclosed.
"This alliance with Dow AgroSciences is important to Agrisoma
because it validates the growing interest in the market for
selecting the ACE System as a robust and innovative tool to
transfer and express genes in plant systems," said Agrisoma
President and CEO, Tom Mamic. "This is the first commercial
agreement whereby the ACE System is being employed in a
plant-based application, and we are pleased that it is being
executed with a leading agricultural sciences company such as
Dow AgroSciences. This collaboration will provide a solid
foundation for our platform technology to become the gene
delivery and expression vehicle of choice for the development of
value enhanced crops and plant-made proteins."
"Dow
AgroSciences plant-made protein capabilities will be broadened
by accessing Agrisoma's technology," said Butch Mercer, global
business leader, Animal Health and Food Safety for Dow
AgroSciences. "We believe this collaboration could potentially
provide us with the ability to significantly decrease our time
to market for engineered plants through the ACE System's ability
to simultaneously introduce and express multiple genes into
plants, offering a powerful tool in the production of proteins."
Agrisoma Biosciences Inc. is a
private biotechnology company developing a chromosome-based gene
delivery and expression platform in plant-based systems. Founded
in 2001 as a spin-off from Chromos Molecular Systems Inc., and
owning an exclusive license to technology developed since 1996,
Agrisoma offers an innovative approach to the development of
value enhanced crops and the production of industrial and
therapeutic proteins.
Agrisoma's technology is a gene delivery and expression platform
capable of simultaneously introducing multiple genes into known
sites in plants in an efficient and predictable way. Once
delivered, these genes exhibit stable and predictable expression
from generation to generation enabling the creation of value
enhanced crops and plants optimized for the production of
industrial and therapeutic proteins. Agrisoma's technology
overcomes the limitations of conventional gene transfer
technologies in crops which include reduced efficiency due to
random integration of genes, and limited capacity to transfer
large amounts of DNA, an important feature to enable crops to
express multiple traits or large complex genes.
Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a
global leader in providing pest management, agricultural seed
and biotechnology products that improve the quality and quantity
of the earth's food supply and contribute to the health and
quality of life of the world's growing population. Dow
AgroSciences has approximately 5700 people in more than 50
countries dedicated to its business, and has worldwide sales of
US $3 billion. Dow AgroSciences is a wholly owned indirect
subsidiary of The Dow Chemical Company. |