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Modular Genetics, Inc. And Monsanto Company (MON) Collaborate To Develop Platform To Optimize Protein Properties

10/19/2005 5:13:00 PM

ST. LOUIS and WOBURN, Mass., March 14 /PRNewswire-FirstCall/ -- Today, Modular Genetics Inc. (MGI) and Monsanto Company 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. See: .

Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. For more information on Monsanto, see: .

Monsanto Company

CONTACT: Ben Kampelman of Monsanto Company, +1-314-694-6192, or KevinJarrell of Modular Genetics Inc., +1-781-376-0020

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