NEWS

logo.gif (1594 bytes)

NEWS

Press Releases NEWS PAGE COMPANY INDEX Press Releases

 

DNAP Holding Corporation and Monsanto to share biotechnology applications for fruits and vegetables
Oakland, California
February 24, 1997

DNAP 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 DNAP’s existing fresh vegetables,” said John Bedbrook, DNAP’s 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.

N1422

.

Copyright © 1998 SeedQuest - All rights reserved