Biotech Values

[DewDiligence]

EVGN, MBII collaborate on insect resistance:

http://finance.yahoo.com/news/evogene-marrone-bio-innovations-sign-110600255.html

Evogene Ltd…and Marrone Bio Innovations Inc…announced today the signing of a multiyear collaborative agreement targeting the joint discovery of novel modes of biological action for insect control, followed by the development and commercialization of new insect control products by each of the companies.

…Evogene will develop biotechnology insect resistance seeds, while MBI will develop biologically-based insecticides. The parties have agreed on revenue sharing from all insect control products developed through the collaboration.

The target insects for the collaboration will be Lygus Hesperus, a sucking insect also known as the Western tarnished plant bug; and Spodoptera exigua, a chewing insect commonly known as Beet Armyworm, each of which currently causes significant damage to a variety of major crops.