March 3, 1999 Four Saskatchewan organizations will receive $590,000 in funding from Ag-West Biotech Inc.
to further projects in human health, environmental remediation and cereal genetics,
Ag-West
President Peter McCann announced today. The recipients of this funding reflect the scope
of
endeavor in the agbiotech industry, McCann says. These organizations are pursuing
opportunities that are redefining and expanding what we think of as agriculture.
Prairie Plant Systems of Saskatoon will use its $150,000 equity investment to develop
specialized plants for mine site revegetation and to expand its program at its biosecure
growing facility located deep in a mine at Flin Flon. This program will examine
therapeutic plant proteins for their potential in treating cancer.
Also on the human health front, Termidor Corporation will receive $150,000 to further test
its plant extract, Termidol V, and to isolate the extracts active ingredients.
Initial testing shows Termidol V is effective against Herpes Simplex A, the virus that
causes cold sores. It also holds promise in treating Herpes Simplex B, which causes
genital herpes.
In animal health, Ag-West is investing $240,000 in Saskatoon Colostrum Company to support
the entry of HEADSTART, its colostrum-based product for the cattle and dairy industry,
into the U.S. market. Colustrum is the milk produced just before and after calving. It
contains high levels of antibodies that prime the calfs immune system to fight off
infections. HEADSTART is currently being marketed in Canada and Germany.
Ag-West is also providing $50,000 in strategic bridge funding to support a cereal genetics
joint project between the NRC Plant Biotechnology Institute and the National Science and
Technology Board of Singapore. This project is aimed at putting transposon gene constructs
into wheat and barley and analyzing the resulting transgenic plants. Transposons are genes
that easily insert themselves into chromosomes. A construct includes the transposon, plus
a promoter that helps turn the gene on, and a marker to allow researchers to locate the
gene after it is in the chromosome.
Ag-West Biotech Inc. offers direct funding and support programs aimed at fostering a
strong and vibrant agbiotech industry in Saskatchewan. Investment funds are provided
through Saskatchewan Agriculture and Food, augmented with returns from previous
investments.
Reliance on provincial government funds has been reduced from $400,000 annually to
$300,000 annually due to returns on previous investments.
An example is Bioriginal Food & Science Corporation, who bought out Ag-Wests
equity investment in December of 1998 for $200,000. Bioriginal is a manufacturer of
nutraceutical products, most notably those derived from the borage plant. Its stated
mission is to produce the worlds cleanest, highest quality essential fatty acid and
plant-based health management products. The company recently outgrew its offices at
Innovation Place and moved to larger facilities. It also owns two processing plants, at
Asquith and Speers.
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