Welcome To The Calyx Bio-Ventures HUB On AGORACOM
Edit this title from the Fast Facts Section
Message: Prees Release of Dec 2nd 2009
FOR IMMEDIATE RELEASE Calyx Announces that Agrisoma Biosciences Inc., Dow AgroSciences have entered into a Collaborative Research and Commercial Option Agreement for Engineered Agricultural Crops North Vancouver, British Columbia, Canada - (December 2, 2009) -– Calyx Bio-Ventures Inc.
(TSX-V: CYX) (“Calyx” or the “Company”), Agrisoma Biosciences, Inc. (“Agrisoma”) and Dow AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical Company (NYSE: DOW), have announced the signing of a Collaborative Research and Commercial Option agreement between Dow AgroSciences and Agrisoma. 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. Calyx has 29 percent of the equity of Agrisoma and $895,071 of secured convertible promissory notes. Agrisoma and Dow AgroSciences have made the following announcement: 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 of 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 Calyx-Bioventures Inc. Calyx Bio-Ventures Inc. is the successor company to Chromos Molecular Systems Inc. (“Chromos”). Chromos was a Canadian biotechnology company that commenced operations in 1996 to pursue the development and commercialization of its proprietary ACE (Artificial Chromosome Expression) System technology. Agrisoma was created initially as a spinoff company from Chromos and licensed technology relevant to plants. Chromos completed a Plan of Arrangement” in 2008 in terms of which Calyx was incorporated by Chromos as part of the corporate reorganization process. Pursuant to the Plan of Arrangement, on June 30, 2008, Calyx acquired all of Chromos’ assets, including the investment in and license to Agrisoma and assumed all of Chromos’ liabilities and obligations. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release Cautionary Note Regarding Forward-Looking Statements Except for the statements of historical fact contained herein, the information presented constitutes “forward looking statements”. Such forward-looking statements, including but not limited to those with respect to the direct and indirect benefits to Agrisoma and the Company as a result of the agreement between Agrisoma and Dow AgroSciences, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or Agrisoma to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forwardlooking statements.
1 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply