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La Jolla, California
February 18, 2000
Akkadix
Corporation, an international agricultural gene discovery and
functional genomics company, announced today the exclusive
in-licensing of novel gene-based technologies that may be used to
ensure durable, high-level expression of transgenes in crop plants.
The technologies were licensed from the South Carolina Research
Institute (SCRI) at the University of South Carolina (USC) and are
based on both issued and filed patents of Dr. Vicki B. Vance,
Professor of Biological Sciences at USC.
Akkadix also announced
a three-year Research Agreement with SCRI, which funds Dr. Vance’s
on-going research on an important viral defense phenomenon in plants
known as post-transcriptional gene silencing (PTGS). The PTGS
mechanism is thought to comprise a surveillance and defense system
that detects viral infections and suppresses systemic spread by
destroying highly expressed viral RNA molecules. Dr. Vance’s
research is expected to generate important new molecular information
on controlling PTGS, which is the suspected cause of the abrupt loss
of value-added traits encoded by highly expressed transgenes.
Dr. Leo Kim, Chief
Technical Officer of Akkadix explained "A major limitation to
progress in introducing highly expressed transgenes in crops has been
the unpredicted and sudden loss of the expression of the genes. It
will be extremely important to gain control of this poorly understood
"gene silencing" phenomenon, so that the expression of
highly expressed transgenes is reliable and long-lasting."
Mr. Gary Richardson,
President of Akkadix, stated that "Akkadix welcomes the
opportunity to support Dr. Vance’s innovative discovery effort,
because it has a significant potential to benefit agricultural
technology. This arrangement is part of Akkadix’s continuing efforts
to develop research relationships and access technology developed by
leading scientists around the world."
Recently, Akkadix
announced the formation of a research collaboration with PhilRice, a
cereal research institute funded by the government of the Philippines.
The collaboration employs the combined use of technologies to discover
agriculturally important genes in rice and to develop targeted traits
in rice. Akkadix will also provide research funding and know how to
PhilRice and has agreed to transfer certain designated technologies to
PhilRice on a non-exclusive basis. Technological developments arising
under the collaboration will be exclusively available to PhilRice for
use in the Philippines to Akkadix for use worldwide.
In December of 1999,
Akkadix announced the appointment of Dr. Chris Lamb to serve as the
Co-Chair of the Company’s Scientific Advisory Board. Dr. Lamb is the
Director of the John Innes Centre in Norwich, U.K. With the addition
of Dr. Lamb, Akkadix’s Scientific Advisory Board consists of: Dr.
Roger Beachy, Co-Chair, Director of The Donald Danforth Plant Science
Center, St. Louis, Missouri; Dr. Chris Lamb, Co-Chair; Dr. Carlos
Barbas, III, Associate Member of The Scripps Research Institute; Dr.
Rick Dixon, Director of the Plant Biology Division of the Samuel
Roberts Noble Foundation, Ardmore, Oklahoma; Richard Michelmore,
Professor of Genetics in the Department of Vegetable Crops at the
University of California (Davis); and Ethan Signer, Professor of
Biology Emeritus at the Massachusetts Institute of Technology.
Akkadix announced late
last year that it was acquiring the assets of Maize Genetic Resources,
Inc., a corn foundation seed company through its wholly-owned
subsidiary Akkadix Genetics, Inc. This acquisition was completed prior
to the end of December. The acquired assets (included breeding
materials, inbred lines and MGR’s proprietary technology for inbred
development), together with Akkadix’s own germplasm, will provide
elite and unencumbered genetics to the seed industry. The ownership
and access to germplasm, coupled with the availability of in-hand gene
technologies, will enable Akkadix to generate products and revenues in
a shorter time frame than one would expect from a newly founded
agricultural biotechnology company.
Equity funding for
Akkadix Corporation has come from venture capital investments by Bay
City Capital Fund I, L.P, North American Nutrition and Agribusiness
Fund, L.P. (which is also managed by Bay City Capital, LLC.) and the
Missouri Soybean Merchandising Counsel, and corporate investments by
AgriBioTech, Inc and Forage Genetics, Inc.
Akkadix Corporation is a global
agricultural biotechnology company that uses gene discovery,
functional genomics, bioinformatics, combinatorial chemistry and other
acquired technologies for the discovery of novel plant traits which
improve health and safety, increase production, lower costs, help
preserve the environment and create new opportunities for crop
production.
Company news release
N2511 |
