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Mendel Biotechnology, Inc. Announces Agreement With Monsanto Company (MON)


7/10/2006 10:47:57 AM

HAYWARD, Calif., July 10 /PRNewswire/ -- Mendel Biotechnology, Inc. ("Mendel") today announced a new research and commercialization partnership with Monsanto Company ("Monsanto"). The new program represents a significant expansion of the ongoing collaboration between the companies and extends the agreement through 2011. Mendel and Monsanto have agreed not to disclose financial details of the agreement.

Monsanto and Mendel will continue to collaborate on the commercialization by Monsanto of technologies developed by Mendel. In addition, the companies will initiate a systems biology program to develop an integrated framework for predictive control of plant gene expression that is anticipated to streamline discovery and product development activities. Monsanto's successful commercialization of products incorporating Mendel's technology will result in milestone and royalty payments

This new partnership extends the relationship initiated in 1997, under which Mendel executed a functional genomics program in the model plant Arabidopsis focused on understanding the factors that control plant gene expression. That program identified a number of genes that have been shown to enhance the yield of major crops in extensive field trials and that are in early commercial development by Monsanto. Under the terms of the new agreement, Mendel and Monsanto will collaborate on advancing these and other inventions toward commercialization.

"We are extremely pleased that Monsanto continues to value our science and technology products, and that we will have the opportunity to collaborate with them on the commercialization of Monsanto seed products incorporating Mendel technology," said Neal Gutterson, Mendel's President and Chief Operating Officer. "Monsanto is the acknowledged global leader in the development and commercialization of high-value, sustainable agricultural products that bring value to growers and improve the abundance and nutritional value of food and feed crops. They offer an excellent channel to major markets for Mendel's discoveries and we are committed to delivering products to Monsanto in a set of agricultural and vegetable crops."

Steve Padgette, Ph.D., Vice President of Biotechnology at Monsanto added, "Mendel has provided us with important technologies that we are evaluating in our biotech crop testing program, some of which we are advancing toward commercialization. Mendel continues to be an excellent partner, and we are looking forward to leveraging their expertise in model crops to accelerate product development. Mendel has been particularly effective delivering advanced leads for soybean seed products with enhanced yield, with one product candidate already in Monsanto's Phase II early development pipeline."

About Mendel Biotechnology

Mendel Biotechnology, Inc., a closely-held private company, has been a pioneer in the application of functional genomics to the study of plant genes. Mendel has identified and patented the use of genes that control many aspects of plant growth and development, and is using such inventions to develop or co-develop new plant varieties with improved productivity and quality. Mendel has relationships with leading agricultural, forestry and horticulture companies for the commercialization of improved seed and plant products, and is developing new seed products for the emerging bioenergy market, focused on cellulosic ethanol. For more information, visit: www.mendelbio.com.

Mendel Biotechnology, Inc.

CONTACT: Neal Gutterson, President & COO of Mendel Biotechnology,+1-510-264-0280


Read at BioSpace.com

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