Monsanto and ToolGen Announce Global Licensing Agreement on CRISPR Platform, Underscore the Benefits of Innovation for Farmer...
August 16 2017 - 8:30AM
Monsanto Company (NYSE:MON) and ToolGen, Inc. (KONEX, 199800), a
biotechnology company specializing in genome editing, announced
today that the companies have reached a global licensing agreement
for the use of ToolGen’s CRISPR technology platform to develop
agricultural products.
ToolGen is an early pioneer in gene editing research. The
license provides Monsanto with access to ToolGen’s comprehensive
suite of CRISPR intellectual property for use in plants. This
agreement further expands Monsanto’s broad portfolio of
gene-editing tools that can be used to develop improved and
sustainable crops.
“We are excited to bring ToolGen’s CRISPR platform on board at
Monsanto, and are continuing to bolster and diversify our
capabilities in this field of research,” said Tom Adams, Ph.D.,
vice president of biotechnology for Monsanto. “As a company we
remain committed to the development of safe, sustainable and
high-quality crops, and look forward to leveraging the CRISPR
platform as we endeavor to meet the needs of farmers while
answering consumer demand for food options.”
In order to grow more using less, farmers need a variety of seed
choices to solve their local needs – like managing changing
weather, fighting plant disease and pests, and using crop inputs
and natural resources wisely. The companies noted that gene-editing
technologies, like CRISPR, offer agriculture researchers
significant advantages over existing plant breeding and
biotechnology methods due to their versatility and efficiency, and
will allow Monsanto to provide farmers with solutions to problems
that have been previously unaddressed.
“We are pleased to announce our agreement with Monsanto, a
global agriculture leader, and look forward to working together to
build new and exciting opportunities in agriculture,” said Jongmoon
Kim, chief executive officer of ToolGen. “This agreement further
validates our platform and demonstrates the value that gene editing
will hold for the future of both agriculture and
biotechnology.”
Additional terms of the agreement were not disclosed.
About Monsanto CompanyMonsanto is committed to
bringing a broad range of solutions to help nourish our growing
world. We produce seeds for fruits, vegetables and key crops - such
as corn, soybeans, and cotton - that help farmers have better
harvests while using water and other important resources more
efficiently. We work to find sustainable solutions for soil health,
help farmers use data to improve farming practices and conserve
natural resources, and provide crop protection products to minimize
damage from pests and disease. Through programs and partnerships,
we collaborate with farmers, researchers, nonprofit organizations,
universities and others to help tackle some of the world’s biggest
challenges. To learn more about Monsanto, our commitments and our
more than 20,000 dedicated employees, please visit monsanto.com.
Follow our business on Twitter® at twitter.com/MonsantoCo.
About ToolGen, Inc.ToolGen, Inc. is a
biotechnology company focused on the development and application of
genome editing technologies. It creates, and holds intellectual
property rights for essential tools and technologies for editing
the genetic information in microbial, plant, animal, and human
cells. ToolGen’s mission is to translate the potential of our
innovative platform technology into transformative products for
biomedicine and agriculture. For more information, please visit
www.toolgen.com.
Cautionary Statements Regarding Forward-Looking
Information:
Certain statements contained in this release are
“forward-looking statements,” such as statements concerning the
company’s anticipated financial results, current and future product
performance, regulatory approvals, business and financial plans and
other non-historical facts, as well as the pending transaction with
Bayer Aktiengesellschaft (“Bayer”). These statements are based on
current expectations and currently available information. However,
since these statements are based on factors that involve risks and
uncertainties, the company’s actual performance and results may
differ materially from those described or implied by such
forward-looking statements. Factors that could cause or contribute
to such differences include, among others: risks related to the
pending transaction between the company and Bayer, including the
risk that the regulatory approvals required for the transaction may
not be obtained on the anticipated terms or time frame or at all,
the risk that the other conditions to the completion of the
transaction may not be satisfied, the risk that disruptions or
uncertainties related to the pending transaction could adversely
affect the company’s business, financial performance and/or
relationships with third parties, and the risk that certain
contractual restrictions during the pendency of the transaction
could adversely affect the company’s ability to pursue business
opportunities or strategic transactions; continued competition in
seeds, traits and agricultural chemicals; the company's exposure to
various contingencies, including those related to intellectual
property protection, regulatory compliance and the speed with which
approvals are received, and public understanding and acceptance of
our biotechnology and other agricultural products; the success of
the company's research and development activities; the outcomes of
major lawsuits, including potential litigation related to the
pending transaction with Bayer; developments related to foreign
currencies and economies; fluctuations in commodity prices;
compliance with regulations affecting our manufacturing; the
accuracy of the company's estimates related to distribution
inventory levels; the recent increases in levels of indebtedness,
continued availability of capital and financing and rating agency
actions; the company's ability to fund its short-term financing
needs and to obtain payment for the products that it sells; the
effect of weather conditions, natural disasters, accidents, and
security breaches, including cybersecurity incidents, on the
agriculture business or the company's facilities; and other risks
and factors detailed in the company's most recent periodic report
to the SEC. Undue reliance should not be placed on these
forward-looking statements, which are current only as of the date
of this release. The company disclaims any current intention or
obligation to update any forward-looking statements or any of the
factors that may affect actual results.
CONTACT
Monsanto
Media – Camille Scott (314) 694-4645
Investors – Laura Meyer (314) 694-8148
ToolGen
Company – Okjae Koo / Seokjoong Kim +82-2-873-8168
Media – Kirsten Thomas (508) 280-6592
Investors – Tram Bui (646) 536-7035
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