ST. LOUIS & NESS ZIONA, Israel--(EON: Enhanced Online News)--Monsanto Company (NYSE: MON) and NRGene announced today that the companies have reached a non-exclusive, multi-year global licensing agreement on NRGene’s genome-analysis technology to enhance Monsanto’s ability to predict, compare and select the best genetic makeup from its vast data sets of genetic, genomic and trait information.
“Monsanto employs best-in-class data analytics technologies to help unlock the genetic potential of our research and development pipeline for our farmer customers”
NRGene’s platform, GenoMAGICTM, was developed by a unique mix of highly experienced algorithm designers, software engineers, plant breeders and plant geneticists and is used by seed companies and major academic and research institutions around the world.
“Monsanto employs best-in-class data analytics technologies to help unlock the genetic potential of our research and development pipeline for our farmer customers,” said Tom Osborn, Monsanto’s Molecular Breeding Technology Director. “Our focus on data is allowing us make better decisions than ever before – and with GenoMAGIC, we expect to provide our plant breeders with a more comprehensive view to improve their analyses and decisions.”
“Monsanto is a global leader in technology that provides farmers with high-yielding seed hybrids and varieties, and we are proud that they have selected GenoMAGIC as a tool to support their advanced breeding programs,” says Dr. Gil Ronen, NRGene Chief Executive Officer. “Partnering with companies like Monsanto – combined with our recent achievements, including being the first to map the wheat genome – are significant milestones on our roadmap to become the worldwide leader of genomic big data solutions.”
Both companies noted their dedication to developing technologies that support farmers as they work to grow better harvests, protect their crops and deliver more to society in the face of mounting environmental challenges. Monsanto’s research and development (R&D) pipeline is focused on providing solutions to those challenges through plant breeding, plant biotechnology, crop protection, ag biologicals, and data science.
With nearly half of Monsanto’s annual R&D investment focused on plant breeding, the use of leading genome analysis technologies like GenoMAGIC – along with the industry’s largest testing capability and scale and premier discovery technologies – are expected to increase current genetic gain. Monsanto may expand its relationship with NRGene into a longer-term commitment following an in-depth evaluation of the technology. The GenoMAGIC platform extends Monsanto's capabilities for genome selection, trait discovery, and genome enhancement.
About Monsanto Company
Monsanto 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: discover.monsanto.com and monsanto.com. Follow our business on Twitter® at twitter.com/MonsantoCo, on the company blog, Beyond the Rows® at monsantoblog.com or subscribe to our News Release RSS Feed.
NRGene is a genomic big data company developing cutting-edge software and algorithms to reveal the complexity and diversity of crop plants, animals, and aquatic organisms for the most advanced, sophisticated breeding. NRGene tools have already been employed by some of the world's leading seed companies, as well as the most influential teams in academia. NRGene’s GenoMAGICTM and its DeNovoMAGICTM genome assembly solution continue to allow seed companies and major academic and research institutions around the world to support their research on maize, wheat, soybean, vegetables and other crops critical to support global food security. www.nrgene.com
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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 company’s shareowners do not approve the transaction, 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.