Akkadix Genetics, Inc. ("AGI") a wholly owned subsidiary of Akkadix Corporation, and Seed Genetics, Inc. ("SGI"), a corn seed technology and licensing company announced at the American Seed Trade Association Meeting in Chicago earlier this month that they have signed a letter of intent to enter into a strategic alliance to supply corn foundation seed and technology to the seed corn industry.

Under the terms of the letter of intent, SGI will represent designated AGI corn inbreds in the U.S under the AGI brand designation, and AGI will represent SGI corn inbreds in designated international markets. In addition, the letter of intent contemplates that technologies of AGI’s parent company, Akkadix Corporation will be commercialized through SGI.

Tim Johnson, President of SGI said "AGI and Akkadix Corporation are focusing on the application of advanced technologies to develop new seed materials and traits to meet the needs of farmers, consumers and seedsmen. The planned alliance between the two companies is a further example of SGI’s commitment to deliver leading genetics and technologies to its customers, and is the first in which SGI will be representing the genetics of an originator on a transparent basis."

Art Chatroo, Executive Vice President of Akkadix Corporation and Vice President of AGI stated: "Akkadix is pleased to be entering into a strategic alliance with SGI. SGI has demonstrated its ability to deliver superior genetics and technology to the seed corn industry, and is an ideal alliance partner given the leadership role that it is taking in this area."

Seed Genetics, Inc. is a leading U.S. corn seed technology and licensing company that is providing high quality and superior corn inbreds and novel traits to the seed corn industry by representing genetics and technologies of leading companies.

Seed Genetics, Inc. was founded in 1988 and its headquarters are located in Lafayette, Indiana. SGI represents and licenses elite corn genetics to the seed industry. Additionally, SGI administers and services genetic and technology exchanges between companies. SGI conducts product evaluation programs that provide data from hundreds of locations over three or more years to establish the performance of SGI products. Independence, effective marketing programs, industry expertise, efficient logistics and administrative support make SGI a key genetic and technology source for the seed industry.

Akkadix Genetics, Inc is a foundation seed company headquartered in Columbia, Missouri that is developing new corn and sweet corn inbreds. AGI’s breeding activities are being conducted in Angier, North Carolina and, through an affiliate, at greenhouses and a irrigated field in Southern California. Yield testing of AGI inbreds is conducted at over 100 sites in the U.S. Midwest. In addition, collaborative support is provided through breeding programs, germplasm and testing in Europe, India and the Philippines, and through a network of relationships with more than 25 companies worldwide. AGI’s international network of relationships also provides the company with access to unique and diverse genetics in corn and a number of other crops from the major agricultural regions of the world.

Akkadix Corporation is a global agricultural biotechnology company using gene discovery, functional genomics, bioinformatics, homologous recombination, 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 clearly defined agricultural products.

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, LP (which is also managed by Bay City Capital, LLC.), and the Missouri Soybean Merchandising Council. Corporate shareholders include Axys Pharmaceuticals, Inc., Forage Genetics, Inc. and Pangene Corporation.