Oakland, California
February 24, 1997DNAP Holding Corporation (NASDAQ: DNAP)
today announced a technology collaboration agreement between Empresas La Moderna, S.A. de
C.V., (NYSE/ADR: ELM) and Monsanto
Company (NYSE: MTC) which permits DNAP to employ Monsanto
technology for developing improved fruits and vegetables through genetic engineering.
This collaboration provides a clear path to commercialization for DNAPs
existing fresh vegetables, said John Bedbrook, DNAPs Director of Science.
It will expand the DNAP portfolio of products and accelerate their flow into the
market.
Under the agreement, DNAP receives rights to key enabling technologies, including
promoters, markers and transformation methods. In addition, Monsanto will become a
preferred supplier to DNAP of genes controlling quality traits and agronomic traits such
as insect, disease and herbicide resistance. An objective of the agreement is to establish
a long term working collaboration between DNAP and Monsanto in the area of fresh produce,
DNAP will also be
granted rights to certain Monsanto technologies developed in the next decade.
An important result of the agreement is that DNAP receives rights to market its transgenic
ripening-controlled ENDLESS SUMMER® tomato, which has already received full regulatory
clearance in the United States and Canada.
DNAP Holding Corporation, a publicly traded, majority-owned subsidiary of Empresas La
Moderna, S.A. de C.V., is a leading biotechnology company that develops and applies plant
science capabilities to improve the quality and agronomic traits of fruits and vegetables,
so as to capture value through our globally-integrated fresh produce company, as well as
our strategic relationships with affiliated Seminis Vegetable Seed Company, and with
value-added producers and marketers.
In addition to its ownership of DNA Plant Technology Corporation, DNAP Holding Corporation
holds a majority interest in Agrícola Bátiz, S.A. de C.V., a leading grower and
distributor of fresh produce in Mexico, and a majority interest in International Produce
Holding Company, leading distributor of fresh produce in the United States, Canada, and
Europe.
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