Precision BioSciences And Agrivida, Inc. Announce Collaborative Trait Development Agreement And Successful Genetic Modification

RESEARCH TRIANGLE PARK, N.C. and MEDFORD, Mass., March 10, 2014 /PRNewswire/ -- Precision BioSciences and Agrivida revealed today that they have entered into a trait development collaboration based on precise gene modifications made possible by Precision's Directed Nuclease Editor^TM (DNE) Technology. The collaboration recently delivered the first modified genes that are the subject of Agrivida commercialization efforts in the area of animal nutrition. Financial and other terms were not disclosed.

Agrivida is very pleased with the functional performance of Precision's DNE technology. "The efficiency, ease-of-use, and the demonstrated utility of the technology confirm the important role that precise genome engineering will have in the future of agricultural biotechnology," says Mike Lanahan, Agrivida VP of Business Development, Animal Nutrition. "Agrivida anticipates ongoing trait development using the technology in the collaboration with Precision."

"Precision is excited by Agrivida's results and we are thrilled to be working with an innovator in animal nutrition such as Agrivida," says Matthew Kane, Precision CEO. "We are optimistic that the combination Agrivida's unique understanding of plant metabolism and Precision's DNE gene editing technology can be utilized to develop a strong pipeline of greatly needed agricultural product candidates."

Dan Meagher, Agrivida CEO, says, "The opportunity for improving the nutritional characteristics of crops for the dairy and beef market segments is significant. Our results indicate that Precision technology has delivered a compositional modification that will benefit the industry by increasing the productivity of ruminant animals that consume plants expressing our trait."

About Precision BioSciences
Precision BioSciences' mission is to continually provide, improve, and enable the world's most powerful genome engineering technology. Precision's proprietary Directed Nuclease Editor^TM (DNE) technology enables the production of genome editing enzymes that can insert, remove, modify, and regulate essentially any gene in mammalian or plant cells.

Precision BioSciences' vision is to be the conduit through which the world's greatest genome engineering challenges are solved. Precision has successfully utilized its DNE technology to create innovative products in partnerships with many of the world's largest biopharmaceutical and agbiotech firms. Internally, Precision is developing DNE-based product leads for agricultural, biologics manufacturing and human therapeutic applications. For additional information, please visit www.precisionbiosciences.com.

About Agrivida
Agrivida's mission is to deliver a New Generation of Enzyme Solutions where our technologies will play a role in helping feed the world more efficiently, improve resource utilization and foster environmental stewardship via the work of our dedicated employees.

Agrivida is developing and commercializing high-performance products that incorporate novel, regulated proteins precisely engineered for specific applications in a variety of markets, including animal nutrition, bio-based fuels and chemicals, and industrial enzymes. Agrivida is transforming the economics of industrial and agricultural production through our pioneering use of regulated enzymes to develop higher-efficiency, lower-cost biomass feedstock and intermediate inputs. For additional information, please visit www.agrivida.com.

SOURCE Agrivida