Dow AgroSciences, Agrisoma Biosciences signed license option agreement
Dec. 3, 2009
Dow AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical Company (NYSE: DOW), and Agrisoma Biosciences, Inc. today announced the signing of a research and commercial license option agreement. The agreement provides Dow AgroSciences with access to Agrisoma’s proprietary Engineered Trait Loci (ETL) technology on an exclusive basis in major food crops, and on a non-exclusive basis, in other crop species.
Dow AgroSciences and Agrisoma have collaborated since 2004 in the area of high value protein production in plants and plant cell cultures. The initial collaboration formed the foundation of a successful relationship. This new agreement builds on that relationship and expands use of the ETL technology into field crops.
"Dow AgroSciences strategic investment in Agrisoma’s ETL technology will accelerate the creation of new and novel products in crop plants, such as increased levels and improved forms of healthier oils or other beneficial food components," said Dan Kittle, Ph.D., Dow AgroSciences vice president for R&D. "ETL technology will be an important tool in our ‘toolbox’ to deliver differentiated solutions enabled by the expression of multiple genes or enhancements in complex biochemical pathways."
Agrisoma’s ETL technology is a patent protected, broadly applicable technology that facilitates the placement of new traits in the native genome of a crop. The ETL technology has been used to engineer oil composition, oil content and yield for the renewable energy market and ETL-engineered crops are now undergoing a second year of field trials at multiple locations.
"We recognize Dow AgroSciences as a premiere global leader in plant biotechnology and are tremendously excited about the opportunity to expand our collaboration with Dow AgroSciences," said Steven Fabijanski, Agrisoma’s president and chief executive officer. "Agrisoma has demonstrated the utility, stability and performance our ETL technology in a broad range of crops, including important food crops such as soybeans and canola. Our ETL technology has proven performance, and through this new collaboration with Dow AgroSciences, we hope to be able to commercialize this technology in major global food crops. The research collaboration with Dow AgroSciences complements our industrial crop program which is focused on creating renewable feedstocks using dedicated bioenergy plants."
About Agrisoma Biosciences
Agrisoma Biosciences Inc. is a private agricultural biotechnology company using its leading edge ETL technology to create new crop varieties engineered for high value applications such as biofuel production and renewable manufacturing feedstock. Agrisoma’s ETL, or Engineered Trait Loci technology allows efficient stacking and expression of multiple traits in any crop species. For further information about Agrisoma, and its technology, collaborations and partnerships, please visit: www.agrisoma.com
About Dow AgroSciences LLC
Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a top-tier agricultural company that combines the power of science and technology with the "Human Element" to constantly improve what is essential to human progress. Dow AgroSciences provides innovative technologies for crop protection, pest and vegetation management, seeds, traits, and agricultural biotechnology to serve the worlds growing population. Global sales for Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company (NYSE: DOW), are $4.5 billion. Learn more at www.dowagro.com.
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