AgResearch today announced the launch of PhytaGro Inc., a plant sciences intellectual property (IP) development company that will commercialise plant technology in the US and other major agriculture markets.

The joint venture between AgResearch Ltd and San Diego, California based life sciences venture capital company, Finistere Partners, LLC, represents a potentially significant development in the ag-biotech industry, said Finistere Chairman and CEO Dr Jerry Caulder.

Dr Caulder, in New Zealand to speak at the NZBio conference in Auckland from February 27-28, said the potential for technological development and research in plant sciences focused on the agriculture marketplace was significant.

The venture, utilising AgResearch’s plant genomics discovery and development capability and Finistere’s experience, access to complementary IP, markets and customers represents a compelling combination, he added.

“AgResearch has many years of ground breaking discovery and development capability which can be leveraged into bigger markets and for new uses in the major ag-bio markets outside New Zealand. These same markets can be an excellent source of additional IP which can be applied to directly benefit the New Zealand agriculture sector. We see a win-win for New Zealand with the establishment of PhytaGro.”

PhytaGro, which is 80 per cent owned by AgResearch with Finistere taking a 20 per cent shareholding, will allow commercialisation of novel technology in non-forage plants derived from research in forage plants, bolstered by IP developed offshore and adapted to use with PhytaGro’s other IP, products and services.

Research and development will be focused yet wide ranging in terms of work with plant genes, promoters and genetic technology. It also has application in animal health, insect resistance, bio-energy, plant made pharmaceuticals and vaccines, and potentially drug or vaccine delivery through plants.

AgResearch and PhytaGro Board member, Danny Chan, said the IP that AgResearch sources in the US through its relationship with Finistere will have wide ranging application in New Zealand to the direct benefit of the New Zealand pastoral sector.

“This is an exciting development for New Zealand farmers as they will benefit from the technology, products and services that PhytaGro develops.”

He said the partnership with Finistere would provide huge benefits in terms of their US contacts, knowledge of North American markets and their presence in the US for business development.

“PhytaGro will allow access to key gate-keeping technology which will help AgResearch commercialise its IP for the benefit of the New Zealand pastoral sector,” he said.

Mr Chan said as much research as possible would be undertaken by the AgResearch biotechnology team at its Grasslands campus in Palmerston North with development and commercialisation into North America occurring with US commercial partners.