Proactiveinvestors United Kingdom

FuturaGene licenses its technology to China’s BioCentury Transgene to develop GM cotton

Mon, 25 Jan 2010 09:04:00 +0000

Genetic research and development company FuturaGene (AIM: FGN) said it has entered into a licensing agreement with Chinese seed producer BioCentury Transgene Co to provide genes for development in cotton plants. Biocentury intends to develop cotton plants with improved and increased yield, fibre quality and salt tolerance characteristics. FuturaGene and BioCentury will share revenues generated by sales of the newly developed cotton seeds.

Under the agreement FuturaGene will provide BioCentury with cell wall modification and salt tolerance genes.

According to FuturaGene the global cotton seed and trait market is valued at over US$850m per annum with China accounting for approximately 20% of the market.

FutureGene also recently licensed its drought tolerance technology to Bayer CropScience for utilisation in cotton worldwide. The genetic modification specialist's main focus is the development of its Cell Wall Modification and Abiotic Stress Tolerance technologies for the forestry and biopower crops, this deal is in-line with its strategy of ‘out-licensing’ its technologies in non-core crops, such as cotton.

"This important agreement fits well with our strategy - to focus on poplar and eucalyptus for the pulp and biomass markets whilst licensing our leading gene technologies to major operators for other crops”, FuturaGene CEO Dr Stanley Hirsch commented, “This strategy ensures we remain focused but also benefit from potential royalty revenues, without further capital outlay, when our technologies are used in additional crops."

Futuragene raises £3 mln in placing, further potential £3 mln via warrant issue

Wed, 02 Dec 2009 09:15:00 +0000

Plant genetic research and development group Futuragene PLC (AIM: FGN) said it has raised £3 million through a non-brokered placing with new institutional and existing institutional and private shareholders and has issued warrants to the placees which could potentially raise another £3 million.

The company plans to use the net placing proceeds of approximately 2.97 million for working capital and research & development needs, including the acceleration of its eucalyptus partnerships and the exploitation of opportunities in the poplar biopower markets in the US and China.

Futuragene anticipates that the proceeds will provide sufficient funding for its current planned activities for the next 18 months.

It has placed 6 million new shares at 50 pence each and has issued 6 million warrants to subscribe for new ordinary shares at an exercise price of 50p on a 1-for-1 ratio. The warrants become exercisable on November 30 2010 and expire on December 14 2010.

Hartford Growth (Trading) Fund Ltd is becoming a new major shareholder in the placing, taking 3 million of the placing shares for a stake of approximately 5.34 percent.

FuturaGene said it has made significant progress in becoming a supplier of plant genetic products for the global forestry, biofuel and agriculture industries. Recent milestones include the exercise of commercialisation options between the group and IIBRD, a subsidiary of a major forestry group, and an extension of the group's agreement with the Research Institute of Tropical Forestry (RITF) of China, for the development of growth-enhanced eucalyptus.

It expects commercial planting of trees containing its genetic material within the next two to three years through its activities in Brazil with Suzano, with associated royalty payments. FuturaGene has additional development partnerships and license agreements which are progressing at projected pace through the development pipeline towards commercialization.

FuturaGene is developing crops for biomass, second generation biofuel and biopower through two main technology platforms: Cell Wall Modification, which helps crops grow faster, enhancing yield and processability; and Abiotic Stress Tolerance which enables plants to grow in harsh, dry, salty environments or protects yield when plants are stressed by these factors.

The group's most advanced technologies are for yield improvement in sustainable industrial forestry and it has strong partnerships with international forestry and agriculture companies, such as Suzano, Forage Genetics (Land 'O Lakes), China Academy of Forestry (CAF), AA Alliance and Targeted Growth. The group has established broad applications of its technology in key crops including eucalyptus, poplar, alfalfa and corn.

FuturaGene accelerates alternative energy projects at Purdue University

Mon, 23 Nov 2009 14:44:00 +0000

Plant genetic research and development company FuturaGene (AIM: FGN) is set to accelerate the development of its proprietary draught and salt tolerance gene in poplar trees with another complementary project at Purdue university in the US, which has secured funding from the Consortium for Plant Biochemistry Research following a grant selection process.

The company, which is focused on global forestry, biofuel and agricultural markets, said the aim of the research was to improve drought and salt tolerance of short-rotation poplar, which would adapt these trees to more environmentally stressful conditions and enable them to grow on marginal lands for large-scale production.

The plant has become widely accepted as a potential source of biomass for use in renewable energy as woody biomass is becoming an attractive alternative to fossil fuels as it produces fewer emissions, mitigates global climate change and can increase national energy security.

As cellulose-to-ethanol technologies are set to mature over the next few years, poplar is expected to become an important source for liquid biofuels.

“Poplar is now widely accepted as a fast growth short rotation crop which is carbon neutral and can be used for energy production by combustion. The project, which complements others we have around the world, aims to develop the tree for large scale planting on land which is unsuitable for food or feedstuff production, frequently because of drought or saline levels,” said Chief Executive of FuturaGene.

Richard Meilan, which leads the project at the Purdue University, said that poplar would be a key bio-energy crop worldwide and would have direct commercial applicability.

The knowledge gained from the research is also expected to be transferrable to other bio-energy crops.

FuturaGene unit in collaboration deal with Oregon State University

Mon, 11 May 2009 11:22:00 +0100

FuturaGene PLC (AIM: FGN) said its unit CBD Technologies Ltd has entered into a collaborative agreement with Oregon State University under which it will provide professor Steven Strauss’ research group at the Forest Biotechnology department with a proprietary eucalyptus clone and a highly efficient eucalyptus transformation protocol.

The collaboration will facilitate rapid and efficient evaluation of genes for flowering control and other biosafety aspects of tree modification.

In addition CBD Tech plans to join the Tree Biosafety and Genomics Research Cooperative (TBGRC), an internationally recognised tree research consortium that has been working with forest industries on tree biotechnology for 15 years and which is directed by Professor Strauss.

Although eucalyptus is the most widely planted commercial plantation tree species for pulp and paper production in the world, this species is notoriously difficult to transform, FurturaGene said in a statement.

Thus, the supply of a proprietary clone and transformation method from the company to a public research institute, under appropriate material usage and confidentiality provisions, represents a significant contribution to accelerating public research and development in this species, it added.

FuturaGene granted plant cell wall modification patent in Japan

Wed, 15 Apr 2009 16:06:00 +0100

Plant biotechnology specialist, FuturaGene, announced that its subsidiary, CBD Technologies has been granted a Japanese patent related to plant cell wall modification.

Specifically, the patent covers “Transgenic plants of altered morphology and the isolated arabidposis thaliana endo-1,4-beta-glucanase gene, promoter and protein.”

The “altered morphology” includes higher biomass, faster growth rate, higher yield, higher cellulose content, more amenable for digestion by ruminants or increased resistance to heat, biodegradation or pests.

Dr. Stanley Hirsch, Group CEO of FuturaGene said:

“This patent consolidates our global intellectual property position in the critical area of cell wall modification, which is a fundamental technology for yield enhancement in plants. This is highly significant for the sustainable industrial forestry, biofuel and biopower sectors. Japan is home to some of the world's largest pulp and paper producers, enhancing the significance of this patent.”