La Jolla, California
July 17, 2000

Akkadix Corporation, an international agricultural gene discovery and functional genomics company, announced today the signing of an agreement with the John Innes Centre, Norwich, UK for a "targeted" activating tagging research program for gene discovery in the areas of disease resistance and plant natural product biosynthesis. This program will be integrated into the large-scale activation-tagging program previously established by Akkadix at the University of Edinburgh. Prof. Chris Lamb of the John Innes Centre, and Dr. Peter Doerner and Prof. Anthony Trewavas of the University of Edinburgh will manage the overall program.

Under the agreements with the John Innes Centre and the University of Edinburgh, the programs will be supported by Akkadix for an initial period of three years, and may be extended thereafter. Developments arising under the program will be available to Akkadix to license.

Leo Kim, PhD, Chief Technical Officer of Akkadix stated, "The addition of Professor Lamb’s contribution to our targeted activation tagging programs is a major enhancement to our gene discovery efforts. The integrated and complementary approaches being used by the two groups of scientists at Edinburgh and the John Innes Centre will accelerate the discovery of novel genes with known utility."

"Akkadix continues to broaden its web of relationships with the best scientists and research institutions around the world. This agreement reflects the world leading science in plant metabolism and disease resistance at the John Innes Centre," said Gary Richardson, President of Akkadix. "Our Agreement with the John Innes Centre is another example of Akkadix’s efforts in this area."

In May, Akkadix announced that it had acquired exclusive rights to a gene discovery technology ("TraitFinder™") that was developed jointly by Dr. Martin Yanofsky at the University of California, San Diego and Dr. Detlef Weigel at The Salk Institute, and that it had entered into exclusive consulting agreements with the aforementioned scientists, and Dr. Julian Schroeder of the University of California, San Diego, to advise Akkadix on utilizing this technology for the identification of new plant traits. Dr. Joanne Chory, a member of Akkadix’s Scientific Advisory Board will also participate as an advisor to this unique program.

In March, Akkadix announced the extension and expansion of its research relationship with the University of Edinburgh for an additional period of three years. Research activities under this relationship will comprise seven separately funded areas: Plant growth control; Plant stature and organ size; Embryo, seed and fruit development; Disease, pathogen and pest resistance; Plant primary and secondary metabolism; and Natural product pathways. Developments arising under these programs will be available to Akkadix on an exclusive worldwide bass for all crops.

In February, Akkadix announced that it had licensed certain gene technologies developed by Dr. Vicki B. Vance from the South Carolina Research Institute. The licensed gene technologies are useful to ensure durable, high-level expression of transgenes in crop plants. In addition Akkadix also announced that it had entered into a three-year research Agreement to fund Dr. Vance’s on-going research into an important viral defense phenomenon in plants known as post-transcriptional gene silencing.

In January of this year, Akkadix also announced the establishment of a research collaboration with The Philippine Rice Institute (PhilRice) for gene discovery in rice. Developments arising under this program will also be available to Akkadix on a worldwide basis, and to PhilRice for use in the Philippines.

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 Council. Corporate shareholders include Axys Pharmaceuticals, Inc. and Forage Genetics, Inc.

Akkadix Corporation is a global agricultural biotechnology and foundation seed company that uses gene discovery, functional genomics, bioinformatics, plant breeding and other technologies for the discovery and delivery of novel plant traits which improve health and safety, increase production, lower costs, help preserve the environment and create new opportunities for agriculture.

Company news release
N2845