Mendel Biotechnology Yield Trait Reaches Phase III For Monsanto Soybean Products

Main Category: Pharma Industry / Biotech Industry
Also Included In: Water - Air Quality / Agriculture
Article Date: 12 Jan 2009 - 2:00 PST

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Monsanto Company ("Monsanto") announced earlier this week that it has advanced its higher yielding soybean trait, sourced from Mendel Biotechnology, Inc. ("Mendel"), into its Phase III development stage. The technology was identified and developed through a research program funded by Monsanto, designed to leverage Mendel's expertise in regulatory pathways and network biology. The two companies have worked together for over a decade on the development of biotechnology-based traits for Monsanto's row crops seed business, and the companies continue to collaborate to develop high-value traits.

"We are delighted that one of our traits has reached this advanced stage in Monsanto's commercial pipeline, which underscores the commercial viability and success of this project, and validates our long term R&D strategy focused on understanding gene networks that control important plant traits," said Neal Gutterson, President and Chief Executive Officer of Mendel. "Monsanto is the acknowledged global leader in the development and commercialization of high-value, sustainable agricultural seed products. We are very excited to be a developer and provider of trait technologies for them."

"Monsanto is committed to providing farmers with higher grain yields to help support the world's growing demand for food, feed and fuel," said Steve Padgette, Vice President of Biotechnology at Monsanto. "We are extremely pleased to see our long-term, valued collaboration with Mendel deliver an important trait into Phase III advanced commercial development."

Higher yielding soybeans, which have demonstrated 6 percent to 7 percent yield increase across three seasons of testing in 56 field environments, are expected to be an important part of our stacked soybean trait portfolio of the future, Padgette said.

"We also are excited about other Mendel genes being evaluated in our R&D pipeline," he said.

About Mendel Biotechnology

Mendel Biotechnology, Inc., has been a pioneer in the application of functional genomics to the study of plant genes. Mendel is also a pioneer for the production of dedicated energy crops critical for second generation biofuels. Mendel has identified and patented the use of genes that control many aspects of plant growth and development, and is applying these inventions to develop or co-develop new plant varieties with improved productivity and quality. Mendel has relationships with leading agricultural, energy, forestry and horticulture companies for the commercialization of improved seed and plant products, and is developing new seed and feedstock products for the emerging bioenergy market. For more information, visit: http://www.mendelbio.com.

About Monsanto Company

Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world's natural resources such as water and energy. To learn more about our business and our commitments, please visit: http://www.monsanto.com.

Certain statements contained in this presentation 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. 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: 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 acceptance of biotechnology products; the success of the company's research and development activities; the outcomes of major lawsuits; developments related to foreign currencies and economies; successful operation of recent acquisitions; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company's estimates related to distribution inventory levels; 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 and accidents 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 presentation. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.

Monsanto Company