Expansion of collaboration agreement with RITF
13 Julho 2009 - 5:54AM
UK Regulatory
TIDMFGN
RNS Number : 5482V
Futuragene PLC
13 July 2009
FUTURAGENE PLC ("FuturaGene" or the "Company")
FuturaGene's Wholly Owned Subsidiaries, CBD Technologies LTD and FuturaGene
Investment Consulting (Beijing) Expand their Collaboration Agreement with the
Research Institute of Tropic Forestry of the Chinese Academy of Forestry.
Rehovoth, Israel
13th July, 2009
FuturaGene, which develops environmentally friendly solutions that enhance
yields and improve the processability of plants for forestry, biofuels, biopower
and agriculture, is pleased to announce that the company and its wholly owned
subsidiaries, CBD Technologies Ltd. and FuturaGene Investment Consulting Co.
Ltd. (Beijing) have agreed to extend their September 2007 Collaboration
Agreement with the Research Institute of Tropic Forestry (RITF), which is aimed
at the development of improved eucalyptus varieties. Under the terms of the
amendment to the agreement, CBD Technologies Ltd. will share new genetic
solutions with RITF to impart resistance to Bacterial Wilt, a serious disease of
eucalyptus. RITF will utilize this technology to modify Chinese eucalyptus
varieties to enhance their resistance to Bacterial Wilt disease. The parties
will share equally the commercialization rights to the resistant varieties in
the Chinese domestic market.
According to China's State Forestry Administration, total eucalyptus plantations
in China were estimated to cover approximately 2 million hectares in 2008 with a
projected growth to 2.5 million hectares by 2010. Eucalyptus trees are planted
in 18 provinces in China and major plantation areas are located in the provinces
of Guangdong, Guangxi, Hainan, Fujian and Yunnan.
Bacterial Wilt disease is caused by the soil bacteria Ralstonia solanacearum.
The bacteria invade plants via roots or stem wounds and propagate in stem
tissue, resulting in necrosis; the leaves wilt and the roots rot leading to the
death of the trees within several weeks, in the case of acute infection or
within 3 to 6 months in chronic disease. Bacterial Wilt disease has become
widely dispersed in the major plantation provinces of China. Infection rates
range from 20% to 40 % of young, disease-sensitive eucalyptus clones. The
highest infection rates of up to 88% were reported in forest farms in Guangxi
province at the end of 2006. The disease has the potential to infect entire
forests or regions, causing enormous economic losses.
Dr. Stanley Hirsch, Group CEO of FuturaGene commented: "We believe that the
extension of our relationship with RITF is of critical economic importance to a
significant forestry activity in Southern China. As the effects of climate
change increasingly manifest themselves, plant diseases are becoming more
rampant and effective solutions are desperately needed. We stated in our latest
annual report that we were beginning to move into the area of biotic stress, as
part of our program for sustainable agriculture and yield protection. With this
extension to our joint activities with RITF, we hope to deal both with a rapidly
spreading disease and ensure the sustainability of eucalyptus farming and the
livelihood it provides to the local communities and farmers.
Dr. Xu Daping, Director and Chief Research Scientist of RITF stated:
"We are pleased to extend our collaboration with the FuturaGene Group, one of
the most experienced groups in the field of forest biotechnology today. Based
on our ongoing collaboration, we are confident that FuturaGene can make a
significant contribution to the development of eucalyptus varieties with
enhanced resistance to the Bacterial Wilt disease. We believe that this project
can have a most significant environmental and commercial impact in China".
FuturaGene Plc
Mark Pritchard, Chairman +44 (0) 7802 827 846
Dr. Stanley Hirsch, Group CEO+972 544 56 2724
Evolution Securities
Neil Elliot +44 (0) 20 7071 4300
About FuturaGene PLC
FGN is a leading agricultural biotechnology company focused on research,
development, and commercialization of technologies that play key roles in
substantially improving agronomic traits of value in plants. In particular the
Company is focused on the development and commercialization of genetically
modified plants for improving and protecting yields, and enhancing
processability and environmental sustainability in the forestry, biofuels,
biopower and agricultural sectors. In addition to its in-house discovery
program, FuturaGene licenses intellectual property from leading universities in
its strategic fields of interest and is exploiting the synergies of these
technologies with the cell wall modification platform of its wholly owned
subsidiary, CBD Technologies, Inc. (CBD Tech) in forestry, biofuel, biopower,
food and feed crops.
CBD Tech has pioneered a modality for modifying plant cell walls, resulting in
enhanced growth and biomass, increased cellulose, improved fiber properties,
improved digestibility and processability, and increased yield properties and
has secured broad intellectual property covering plants with modified cell walls
showing such altered properties. More information is available at
www.futuragene.com
About RITF
The Research Institute of Tropic Forestry (RITF) is one of the regional
scientific research institutes within the Chinese Academy of Forestry (CAF)
under the State Forestry Administration (SFA), China. Established some 45 years
ago, RITF is one of China's leading forestry research institutes and aims to
become a leading international research institute for tropical forestry in the
next 15 years by optimising its resources, increasing its innovative ability and
enhancing its scientific and technological operations. The mission of RITF is to
conduct research to support the development of forestry in tropical and southern
subtropical China. It has a number of research facilities: a national key field
scientific experimental station, a SFA key open laboratory, the
Hainan Chenlonggou nature reserve administered by the SFA, Jianfengling tropical
forestry experimental station and Yangxi experimental base in
Guangdong Province.
About the Chinese Academy of Forestry
Chinese Academy of Forestry (CAF) was founded in 1958 based on the former
Central Research Institute of Forestry established in 1953. The academy has over
4,400 staff, including researchers, engineers, and technicians, involved in more
than 150 disciplines and is authorized to award advanced academic degrees in a
number of fields. Having research offices and satellite institutions in a number
of sites around China as well as more than 60,000 hectares of experimental
lands, CAF is in the mainstream of tree development and breeding in China
This information is provided by RNS
The company news service from the London Stock Exchange
END
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