Modular Genetics achieves year one milestones in agreement with Monsanto Company. Modular announced the achievement of all year-one milestones under its three-year research collaboration agreement with Monsanto Company (NYSE: MON) to advance Monsanto's protein optimization platform. Achievement of these milestones triggers payments to Modular. Additional payments from Monsanto are based on the achievement of further milestones. Specific financial terms of the agreement were not disclosed. "We are delighted with the progress that we have made to date in our collaboration with Modular Genetics," said Tom Adams, Monsanto's director of yield and emerging technologies. "The rapid accomplishment of these milestones has allowed us to produce and test a number of new gene variants that could ultimately lead to exciting agricultural technology that benefits farmers."
Modular Genetics Moves to New Facility in Cambridge. Modular Genetics, Inc., has relocated to a 25,000-plus square foot facility on Vassar Street in Cambridge in proximity to the campuses of MIT and Boston University. The company has close relationships with faculty at both institutions and was founded by Drs. Kevin Jarrell and Temple Smith, former and current BU faculty members. The new facility will accommodate all of the company's research needs and have room for expansion. Monsanto will occupy and staff contiguous space to utilize its relationship with Modular Genetics.
Modular Genetics Initiates Collaborative Research Program with Monsanto. Modular Genetics, Inc., and Monsanto Company announced a collaborative relationship to advance Monsantos protein optimization platform. The relationship will be based on Modular's patented breakthrough protein optimization platforms, which are used for the screening, identification and assembly of proteins for research. As part of the three-year collaboration, Monsanto will gain an exclusive license to use Modulars platform for use in agricultural applications. Applying this platform, Monsanto will be able to accelerate its ability to identify and develop new traits for platforms like agronomic traits, enhanced nutritional content and improved yield properties. The collaboration with Modular Genetics is a terrific complement to the industry-leading research and development program weve built at Monsanto, said Robert T. Fraley, Executive Vice President and Chief Technology Officer of Monsanto. Access to Modular's high-capacity protein optimization platform will help us advance projects more quickly and efficiently through our discovery pipeline, ultimately leading to the ability to offer more products to more farmers. Modular Genetics is thrilled to have aligned our scientific efforts with such a strong partner as Monsanto, said Kevin A. Jarrell, Co-founder, President and Chief Scientific Officer of Modular. Weve worked hard to develop technology that we believe takes a new approach to protein optimization and were excited to have the opportunity to build on the work weve done in the pharmaceutical sector and apply our technology in the agricultural arena.
