FuturaGene licenses cell wall and salt tolerance genes to BioCentury Transgene
Genetic research and development company FuturaGene (AIM: FGN) said it
has entered into a licensing agreement with Chinese seed
producer BioCentury Transgene Co to provide genes for development in
cotton plants.
Biocentury intends to develop cotton
plants with improved and increased yield, fibre quality and salt
tolerance characteristics. FuturaGene and BioCentury will share
revenues generated by sales of the newly developed cotton seeds.
Under the agreement FuturaGene will provide BioCentury with cell wall modification and salt tolerance genes.
According
to FuturaGene the global cotton seed and trait market is valued at over
US$850m per annum with China accounting for approximately 20% of the
market.
FutureGene also recently licensed its drought tolerance
technology to Bayer CropScience for utilisation in cotton worldwide.
The genetic modification specialist's main focus is the development of
its Cell Wall Modification and Abiotic Stress Tolerance technologies
for the forestry and biopower crops, this deal is in-line with its
strategy of ‘out-licensing’ its technologies in non-core crops, such as
cotton.
"This important agreement fits well with our strategy -
to focus on poplar and eucalyptus for the pulp and biomass markets
whilst licensing our leading gene technologies to major operators for
other crops”, FuturaGene CEO Dr Stanley Hirsch commented, “This
strategy ensures we remain focused but also benefit from potential
royalty revenues, without further capital outlay, when our technologies
are used in additional crops."
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