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Gent, Belgium
April 23, 2001
CropDesign N.V.
(CropDesign) announced today that it has been awarded a major
Flemish government grant to support its on-going functional
genomics research and product development program. The grant was
awarded by the Institute of Science and Technology (IWT). Under
the terms of the grant, CropDesign will receive 95 million
Belgian Francs (approximately € 2.35 million) over the 3-year
life of the project.
According to Dr. Herman Van
Mellaert, CropDesign CEO, "this support from the Flemish
government will greatly aid us in developing further our
TraitMill functional genomics technology platform. Nearly all of
our competitors in plant functional genomics are restricted to
the use of Arabidopsis, an easy to grow small weed. While
Arabidopsis is a useful model plant, many research findings
cannot be easily extrapolated from it to the major crops,
including cereals. Our goal is to be a leader in applying
high-throughput genomics tools directly in cereals. Our applied
TraitMill research in fact gives us an edge in building relevant
utility-based intellectual property and in fast-tracking product
leads for development of improved rice and other cereals. In
this respect, IWT’s support for the TraitMill has a definite
strategic impact on us. High-technology companies such as
CropDesign are able to compete for capital, technology, and
business development at a global level in part because of the
Flemish government’s foresighted policy regarding
biotechnology. In addition, the recognition from the IWT of the
value of our technology and product development programs is a
welcome endorsement of our corporate achievements and
ambitions." Van Mellaert added that CropDesign will invest
significantly in R&D infrastructure in Flanders this year,
and in the years to come. In August of 2000, the company raised
€25.7 million in equity financing to fund its near-term
investment and operational requirements. In 2000 the company
also nearly doubled its workforce to approximately 60 people,
and expects to rapidly expand in 2001 as well.
The IWT grant will
fund the development and use of the company’s TraitMill for
improved crop yield. Improved yield under varying conditions and
environments is the fundamental goal of most crop breeding
programs. Yield is in fact a complex trait involving many plant
genes, making traditional plant breeding a difficult and laborious
task. Plant breeders are confronted with a yield plateau in some
major crops. CropDesign targets the specific use of genes linked
to cell growth and division, including cell cycle genes, for yield
improvement. The company uses its TraitMill tool for the
high-throughput production and evaluation of plants, including
plants expressing genes modified for improved yield.
The TraitMill is
designed to avoid some of the bottlenecks in classical plant
breeding which now limit breeding for increased yield and other
traits. Plant breeders work with entire plant genomes in order to
generate the genetic diversity they require for developing new
varieties and hybrids. As a result, undesirable characteristics
are often introduced and mask the desirable ones that plant
breeders seek. With the TraitMill, CropDesign can determine the
effects on plants of changes from only single genes, or from
determined gene combinations. The TraitMill also involves digital
imaging and analysis throughout the plant’s development to
specifically monitor the effect on yield of the company’s
technology.
CropDesign, based in
Gent, Belgium is an agbiotech company focussed on the application
of functional genomics for improved crop performance, including
higher yield, heightened tolerance to stress and diseases and
better quality. CropDesign applies its technology in rice, wheat
and other cereals. Founded in 1998, CropDesign employs over 60
people at its research facilities in Gent.
For further
information, please contact:
Herman Van Mellaert, CEO
CropDesign N.V.
Tel: +32 9 241 50 80
Fax: +32 9 241 50 89
E-mail: Cropdesign@cropdesign.com
Company news release
N3474 |
