Athens, Georgia
July 28, 2005InsectiGen,
an Athens, GA-based biotechnology company, today announced that
its patented BtBooster(TM) technology has been licensed by
Pioneer Hi-Bred International,
Inc., a subsidiary of DuPont, for use in making better
pest-resistant crops. Terms of the agreement were not disclosed.
Developed by University of Georgia
(UGA) Professor of Entomology, Biochemistry and Molecular
Biology and InsectiGen's Chief Science Officer, Michael Adang,
the licensed BtBooster(TM) technology has the potential to help
increase worldwide crop yields and farm level productivity. The
BtBooster(TM) product can be effective against pests in both
biotech crops and plant surface applications.
"Farmers today place a high value on insect resistant crops,"
said Jim Miller, vice president, DuPont Crop Genetics Research
and Development. "We're excited about the possibilities this
technology offers in order to help our customers maximize their
harvestable yields and ultimately be more profitable."
According to InsectiGen President Bob Ligon, the agreement with
Pioneer is a significant step for the young company.
"This agreement is validation for our technology and years of
hard work by our team," said Ligon, who joined InsectiGen after
a stint as a Georgia Research Alliance (GRA) Venture Fellow,
where he helped the company develop its business plan. "A solid
licensing agreement helps reduce the risk factor inherent with
any start-up. We expect investors and the industry to start
taking notice of this development."
"Without the help and support of the University of Georgia and
the Georgia Research Alliance, we would not have made it to
where we are today," Ligon continued. "Thanks to their backing,
we're looking forward to our next step: raising capital, setting
up new offices and building a team to help us develop our other
biopesticide and crop protection products."
Both UGA and GRA provided laboratory equipment, a willing supply
of researchers and graduate students, grant funding and
facilities for the company during the development of the
BtBooster(TM) technology.
"Our BtBooster(TM) represents a breakthrough discovery that will
enable a leap to the next generation of biopesticides and crops
developed through biotechnology," said Cliff Baile, InsectiGen's
chief executive officer, Georgia Research Alliance Eminent
Scholar in Agricultural Biotechnology and distinguished
professor of animal science and foods and nutrition at the
University of Georgia.
InsectiGen's scientific founders, Adang and Donald Dean,
Professor of Biochemistry at The Ohio State University, have
played pivotal roles in the discovery and advancement of Bt
technologies. In 1995, Adang demonstrated a method of designing
a synthetic Bt gene suitable for expressing high concentrations
of Bt toxins in plants and was awarded a patent for his
breakthrough invention. Dean has developed groundbreaking
improvements in Bt toxicity and target range extension against
mosquitoes that carry human disease. Additionally, Baile has
founded seven biotechnology companies.
About InsectiGen
Harmful insects produce over $30 billion in crop losses, $3
billion in forest damage and kill more than 2.8 million people
annually, according to the International Service for the
Acquisition of Agri-biotech Applications and the Centers for
Disease Control and Prevention. InsectiGen has developed
biological control technologies that suppress these insects, and
is developing and commercializing a pipeline of products that
will offer environmentally friendly alternatives to chemical and
other natural pesticides. InsectiGen's business foundation is
the commercialization of its expertise and ability to produce
economically valuable technology. It is focusing on two core
areas:
- Crop Protection: This line of business will offer Bt
performance improvement technologies to the genetically modified
crop protection trait markets. The total available market for
this line of business is $3 billion.
- Biopesticide Solutions: This line of business will offer
engineered Bt proteins and performance enhancement proteins for
use by the row and high-value crop industries, the forest pest
control market and public health agencies. The total available
market for this class of biopesticides is now $160 million. |