Paradigm Genetics, Inc. (Nasdaq: PDGM), a functional genomics company, today announced that it has exceeded a third milestone in its collaboration with Monsanto Company (NYSE: MON). The company will receive an undisclosed accelerated milestone payment for this accomplishment.
As outlined in the six-year agreement, Paradigm is using its industrial-scale GeneFunction Factory(TM) to determine the function of genes selected by Monsanto for use in its products. Paradigm will share in any product revenues generated through this collaboration in the form of product milestone payments and royalties. The collaboration agreement was expanded in May 2000 to include Renessen LLC, a joint venture between Monsanto and Cargill Inc., which develops quality traits and customized products that enhance the functionality of grains, oilseeds, and other crops. 

"Our partners rely on our ability to deliver gene function data quickly and accurately. We have been able to meet or exceed their expectations because we have continued to build efficiencies into our discovery platform," said John Ryals, Ph.D., CEO and President of Paradigm Genetics. "Our GeneFunction Factory and the vast knowledge base represented by FunctionFinder(TM) make that possible." 

Paradigm brings to the collaboration its expertise in gene function analysis and bioinformatics. Paradigm's high-throughput analysis methodology is comprised of a series of proprietary analytical processes combined with a computerized knowledge base of plant and fungal gene function information.

"We are pleased with the progress of the program at Paradigm, and also with the quality of interaction between our companies," said Chris Burnley, vice president for Genomics Strategy & Alliances at Monsanto. "Paradigm is a critical component in our extended genomics network."
Monsanto has a robust genomics network, including one of the largest gene sequencing and bioinformatics operations in the world. Monsanto, an 85 percent owned subsidiary of Pharmacia Corporation (NYSE: PHA), is a leading provider of technology-based solutions and agricultural products that improve farm productivity.

Paradigm Genetics is industrializing the process of gene function discovery for four major sectors of the global economy: human health, nutrition, crop production, and industrial products. The company has designed the GeneFunction Factory(TM) -- an integrated, rapid, industrial-scale
laboratory through which it discovers gene function. Paradigm and its strategic partners intend to develop novel products using information developed with the GeneFunction Factory(TM). Paradigm's GeneFunction Factory(TM) is based on a state of the art phenomics platform integrated with metabolic profiling and gene expression profiling technologies. The backbone of the GeneFunction Factory(TM) is the company's proprietary FunctionFinder(TM) bioinformatics system, used to collect, store, analyze, and retrieve information.

Company news release
N3173