DES MOINES, Iowa, and REHOVOT, Israel, Nov. 21, 2011 – DuPont and Evogene Ltd. today announced a multiyear collaboration to improve resistance to soybean rust, one of the most devastating fungal diseases in soybean. Under the agreement, DuPont business Pioneer Hi-Bred and Evogene will collaborate to develop soybean varieties displaying in-plant resistance to rust. Financial terms of the agreement were not disclosed.Soybean is one of the world's most important crops, supplying protein for human and animal consumption and feedstock for oil production. Soybean rust is a severe fungal disease, which causes significant yield losses that can reach up to 80 percent of the affected field. It is estimated that the yield losses caused by soybean rust exceed $1.5 billion annually. Development of new rust-resistant soybean varieties would help growers protect harvestable yield against rust, ultimately improving productivity of agriculture.
DuPont and Evogene will jointly generate a genomic database tailored to soybean rust resistance. Evogene will utilize its computational genomic technology, the ATHLETE™, to identify novel genes predicted to improve soybean rust resistance. Pioneer will use proprietary technologies to evaluate the genes in transgenic soybeans, and may advance leads for further development and commercialization. Evogene will be entitled to receive milestone payments and royalties based on the sales of resulting products.
“Strong disease resistance has been a cornerstone to the growth of our Pioneer soybean business,” said John Bedbrook, vice president, DuPont Agricultural Biotechnology. “Unique science from Evogene is going to help us more effectively tackle soybean rust.”
"In addition to our well-established and leading position providing novel genes for improving crop yields under normal and abiotic stress conditions, such as drought and reduced fertilizer utilization, we are now increasing our efforts with respect to biotic stress conditions, where the crops are attacked by insects, fungi and other stresses,” said Ofer Haviv, Evogene's president and CEO. “Therefore, we are very pleased to enter into this collaboration with Pioneer, one of the world's largest seed businesses and a leading provider of soybean seeds, to utilize our advanced trait discovery technologies to address the important biotic stress condition of soybean rust.”
Pioneer and Evogene have received an approval in principle for partial funding of the project from the BIRD Foundation, a bi-national foundation funded by the Israeli and American governments, which supports and encourages cooperation between Israeli and American companies in various areas of technology, and provides assistance in locating strategic partners from both countries for developing joint products.
Evogene is a world leading developer of improved plant traits, such as yield and drought tolerance, for a wide diversity of key crops through the use of plant genomics. The company focuses on utilizing its proprietary computational genomic technologies to provide a complete solution for plant trait improvement through combining state-of-the-art biotechnology and advanced breeding methods. These technologies include ATHLETE™ 3.0 for gene discovery; Gene2Product™ for improving trait efficacy and probability of successful development of biotechnology seed products; and EvoBreed™ for breeding enhancement. Evogene's plant genomics capabilities combine high throughput plant validation systems, field experiments and proprietary genomic data creation. Evogene is collaborating with world-leading seed companies to introduce its improved plant traits into key commercial crops under milestone and royalty bearing agreements. Evogene's headquarters are in Rehovot, Israel, and its stock is traded on the Tel Aviv Stock Exchange (TASE: EVGN). For additional information, please visit Evogene’s website at www.evogene.com.
Pioneer Hi-Bred (www.pioneer.com), a DuPont business headquartered in Des Moines, Iowa, is the world's leading developer and supplier of advanced plant genetics, providing high-quality seeds to farmers in more than 90 countries. Pioneer provides agronomic support and services to help increase farmer productivity and profitability and strives to develop sustainable agricultural systems for people everywhere. Science with Service Delivering Success™.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit www.dupont.com.
Forward-Looking Statements: This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by DuPont, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; seasonality of sales of agricultural products; and severe weather events that cause business interruptions, including plant and power outages, or disruptions in supplier and customer operations. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information.
11/21/11
The DuPont Oval Logo, DuPont™, The miracles of science™ and Science with Service Delivering Success™ are registered trademarks or trademarks of DuPont or its affiliates.
ATHLETE™, Gene2Product™ and EvoBreed™ are trademarks of Evogene.
Source: The DuPont Company
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