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La Jolla, California
March 2, 2000
Akkadix
Corporation, an international agricultural discovery company, and
The University of Edinburgh, Scotland today announced a major
expansion and extension of a research and license agreement signed in
April of 1999. Plant scientists at the University of Edinburgh will
undertake a large-scale discovery program using a "targeted"
activation tagging approach, an improvement over a commonly used
method which permits rapid development of proprietary technologies for
specific traits of interest. This novel method will be used to
identify genes controlling traits of crucial importance for
agriculture. The University plant scientists will closely interact
with Akkadix scientists and augment the Company's gene discovery
program.
Under the terms of the
Agreement, Akkadix will provide research funding to The University of
Edinburgh for an initial period of three years, and may be extended
thereafter. Developments arising under the program will be available
to Akkadix on an exclusive worldwide basis for all crops.
The research activities
comprise seven separately funded areas:
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Plant growth control;
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Plant stature and
organ shape;
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Embryo, seed and fruit
development;
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Disease, pathogen and
pest resistance;
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Inducible insect
resistance;
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Plant primary and
secondary metabolism; and
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Natural product
pathways
Leo Kim, Chief Technical
Officer of Akkadix, "The probability of finding novel/useful
genes with this approach is extraordinarily high. Our work with The
University broadens our own internal programs for the discovery of new
traits in plants."
"In order for Akkadix
to maintain our position in the industry, we must continue to forge
partnerships with other research institutions," says Gary
Richardson, President of Akkadix. "We are not in the business of
re-inventing the wheel. The synergy generated through a working
relationship with The University of Edinburgh will not only enhance
our program in the areas of research and output, but the exchange of
ideas between our groups will definitely lead to new
discoveries."
Recently, Akkadix
announced the formation of a research collaboration with PhilRice to
employ their respective technologies to develop targeted traits in
rice. Akkadix will provide research funding to PhilRice, and has
agreed to provide training and transfer certain designated
technologies to PhilRice on a non-exclusive basis. Developments
arising under the program will 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. Axys Pharmaceuticals, Inc.
(NASDAQ: AXPH) is also a shareholder of the Company.
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
N2556 |
