Ceres, Inc (CERE)

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· Ceres has entered into a multi-year collaboration with a leading agricultural producer to develop improved crop varieties with higher yields, accelerated growth and greater resilience to drought conditions. The development and commercialization program will be fully funded by the company’s collaboration partner. Payments to the company are expected to exceed $1 million by mid-2016. Ceres is also entitled to royalties for new cultivars commercialized under the agreement.