Forage Genetics,
Inc. (Forage Genetics) and
NuTein Companies, Inc.
(NuTein) announced today that they have formalized their
commitment to work with each other on an exclusive basis to
optimize Lutein production in alfalfa. Lutein is a natural
plant-based substance demonstrated to help prevent Age
Related Macular Degeneration, a debilitating eye disease,
when used as a dietary supplement.
Under the new agreement,
Forage Genetics will provide NuTein with a broad base of
support including:
a) the identification
of alfalfa germplasm containing higher levels of Lutein,
b) protocol development for ISO compliance for growing
and harvesting of alfalfa,
c) crop management of alfalfa to maximize Lutein levels,
and
d) delivery of the improved alfalfa crop to NuTein for
the purposes of processing the alfalfa into Lutein.
Additionally, Forage
Genetics has committed to establishing laboratory and
scientific support to assist NuTein in alfalfa development
activities.
For the past two years,
NuTein has operated a pilot plant for Lutein extraction in
Cozad, Neb. Pre-production manufacturing results have
demonstrated the basis for a large scale and viable
nutraceutical company. NuTein has plans to immediately begin
scaling up to full production capabilities.
As part of the agreement,
Forage Genetics will invest an undisclosed amount in NuTein
and will be issued one million warrants to purchase NuTein
stock at a future date.
"We are pleased that Forage
Genetics and NuTein have developed this synergistic
relationship," said Dr. Mark McCaslin, president of Forage
Genetics, Inc. "NuTein allows us to leverage our existing
strength in alfalfa seed and crop production by aligning
ourselves with an emerging alfalfa nutraceutical company."
Todd Leonard, president and
CEO, NuTein Companies, Inc., stated, "This relationship with
Forage Genetics is significant, as it addresses the
challenges of alfalfa crop management and delivery of the
feedstock to the NuTein production sites, to meet NuTein's
need to harvest up to 15,000 acres of alfalfa each month at
each of our sites across the country. Forage Genetics, a
wholly-owned subsidiary of Land O'Lakes, specializing in
alfalfa genetics, provides us with a critical service that
we deem necessary to grow our business. We are also thrilled
to have Dr. McCaslin join our advisory board."
Forage Genetics, Inc. is
the world leader in the development, production and
marketing of high-quality, value-added alfalfa genetics and
biotech traits through in-house research and development,
external collaborations with biotech companies, and research
institutes and universities. Through its Haymarkets.com Web
site, Forage Genetics is also building an efficient and
effective supply-chain management system for the alfalfa
industry.
NuTein Companies, Inc.,
is a Minnesota-based company formed to commercialize a
variety of products extracted from alfalfa; taking alfalfa
farm products and converting them to nutraceutical and
pharma products. With over 150 alfalfa byproducts that have
commercial value, NuTein has focused its initial efforts on
those products derived from alfalfa that are easiest for the
company to extract, scaleable, and profitable at full
production. NuTein has a pilot production facility in Cozad,
Nebraska.