St. Louis, Missouri and Woburn,
Massachussets
March 14, 2005
Today, Modular
Genetics Inc. (MGI) and
Monsanto Company (NYSE: MON) announced a collaborative
relationship to advance Monsanto’s protein optimization
platform.
MGI has developed and patented breakthrough protein optimization
platforms, which are used for the screening, identification and
assembly of proteins for research.
As part of the three-year collaboration, Monsanto will gain an
exclusive license to use MGI’s platform for use in agricultural
applications. Applying this platform, Monsanto will be able to
accelerate its ability to identify and develop new traits for
platforms like agronomic traits, enhanced nutritional content
and improved yield properties.
“The collaboration with MGI is a terrific complement to the
industry-leading research-and-development program we’ve built at
Monsanto,” said Robert T. Fraley, Executive Vice President and
Chief Technology Officer of Monsanto. “Access to MGI’s
high-capacity protein optimization platform will help us advance
projects more quickly and efficiently through our discovery
pipeline, ultimately leading to the ability to offer more
products to more farmers.”
“Modular Genetics is thrilled to have aligned our scientific
efforts with such a strong partner as Monsanto,” said Kevin A.
Jarrell, Co-founder, President and Chief Scientific Officer of
MGI. “We’ve worked hard to develop technology that we believe
takes a new approach to protein optimization and we’re excited
to have the opportunity to build on the work we’ve done in the
pharmaceutical sector and apply our technology in the
agricultural arena.”
The collaboration includes the establishment of a research
facility in Cambridge, Mass., where a team of Monsanto
researchers will coordinate Monsanto’s protein optimization
program. Additionally, MGI will relocate its business and
research headquarters to the new Cambridge facility.
Specific financial terms of the agreement were not disclosed.
Modular Genetics, Inc. of Woburn, Mass., is a
privately held growth-stage biotechnology company developing
products via automated gene engineering.
Monsanto Company (NYSE: MON) is a leading global
provider of technology-based solutions and agricultural products
that improve farm productivity and food quality. |