Monsanto (MON), Evogene Extend Plant Gene Collaboration; Monsanto to Invest $12M in Evogene
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Monsanto Company (NYSE: MON) and Evogene Ltd. announced today a one-year extension to their five-year research and development collaboration focused on identifying key plant genes related to yield, environmental stress and fertilizer utilization in corn, soybean, cotton and canola. The companies recently announced the successful completion of the collaboration's third year.
The collaboration's gene discovery activities to date have been based on Evogene's ATHLETE" computational technology. As part of the extension, Evogene will add its Gene2Product" computational technologies to its gene discovery program, offering an additional approach for enhancing trait efficacy and the development of candidate genes identified under the collaboration.
As part of the original agreement, Monsanto agreed, via a put option exercisable by Evogene, to invest $12 million toward additional equity in Evogene. This arrangement remains in place under a new put option that is exercisable at $12 per share at a later date.
The collaboration's gene discovery activities to date have been based on Evogene's ATHLETE" computational technology. As part of the extension, Evogene will add its Gene2Product" computational technologies to its gene discovery program, offering an additional approach for enhancing trait efficacy and the development of candidate genes identified under the collaboration.
As part of the original agreement, Monsanto agreed, via a put option exercisable by Evogene, to invest $12 million toward additional equity in Evogene. This arrangement remains in place under a new put option that is exercisable at $12 per share at a later date.
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