Large Scale Biology Corporation and Growers Research Group Announce Research License and Option Agreement
By PR Newswire Last Update: 11/22/2005 11:30:28 AM Data provided by
VACAVILLE, Calif. and SOLEDAD, Calif., Nov 22, 2005 /PRNewswire via COMTEX/ -- Large Scale Biology Corporation (LSBC) and Growers Research Group LLC (GRG) announced today that they have entered into a research license and option agreement centered on LSBC's proprietary GENEWARE(R) plant gene expression technology. The license provides GRG with access to a key technology, developed internally and extensively patented by LSBC, to accelerate development of new products for use in agriculture.
The exclusive, worldwide research license should enable GRG to discover new approaches to crop protection. The agreement also provides an option for commercial rights to GENEWARE(R) technology that can be negotiated at the request of GRG.
Over the past years, GRG has sponsored considerable research at LSBC with a focus on developing new solutions for problems affecting important segments of the agricultural industry. This newly announced license and option agreement acknowledges the success of this early proof-of-concept research between the two companies and builds a structure for future interactions.
"Our cumulative research successes through the last five years motivate us to pursue further developments and to initiate plans to commercialize our concepts. GENEWARE(R) technology is the unique plant tool that enables our novel concepts," stated Richard Smith, Managing Member of Growers Research Group.
"We are delighted to move into this new phase of our relationship with GRG. By providing GRG and its collaborators with access to an important gene expression technology, we will be maximizing our collective business opportunities by developing new products for agricultural use," stated Gregory Pogue, Ph.D., LSBC's Vice President, Research and Development. "By licensing a technology asset in a field of use which is no longer part of our core portfolio, we generate value for LSBC while focusing our efforts in our core business, namely, the development of novel and follow-on plant-made biopharmaceuticals," Dr. Pogue added.
About Growers Research Group
Growers Research Group, LLC is a private company whose members are a consortium of California agribusiness concerns, organized for the purpose of conducting research for the protection, promotion and development of agriculture and for the commercial application of the results of that research.
About Large Scale Biology Corporation
Large Scale Biology Corporation is a biotechnology company developing and biomanufacturing biotherapeutics, vaccines and industrial proteins for important life science industry markets. Corporate headquarters, molecular biology and product design laboratories are located in Vacaville, California, and the Company's bioprocess development and commercial-scale biomanufacturing facilities are located in Owensboro, Kentucky. In addition to its class-leading internal capabilities, LSBC relies on a network of industry, government and academic collaborators throughout the US and Europe to achieve rapid, commercially relevant product discovery, optimization, manufacturing and distribution. For more information about Large Scale Biology Corporation, visit the Company's website at www.lsbc.com.
This release contains forward-looking statements about applications of LSBC's technologies and the markets for our products. These forward-looking statements involve risks, uncertainties and situations that may cause our actual results to differ materially from those implied by these statements, including our ability to produce adequate quantities of product, the ability of our collaborators to generate demand for products we make for them, the effectiveness of our and our collaborators' technologies to produce specific therapeutic products and/or in a cost-effective manner, any difficulties or delays in obtaining regulatory approval to test and market such products, and the requirement of substantial funding for us to preserve our technology base and product pipeline. We cannot guarantee future results. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this release. For a further list and description of such risks and uncertainties see the reports filed by Large Scale Biology Corporation with the Securities and Exchange Commission, including our reports on Forms 10-K and 10-Q. Except as required by law, we do not undertake to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. LSBC(TM) is a trademark of Large Scale Biology Corporation. GENEWARE(R) is a registered trademark of Large Scale Biology Corporation.