November 16th, 2005
Rehovot, Israel - November 16, 2004 - Evogene Ltd. announced today an agreement with Mertec, LLC for the development and marketing of soybean seeds with improved traits. The two companies will bring newly developed traits from Evogene to the market in soybean varieties developed by Mertec. Mertec will market the co-developed soybean varieties using their strong industry channels. Financial terms were not disclosed.
Joseph H. Merschman, Mertec's President, said: "We are excited about our partnership with Evogene. This collaboration strengthens our ability to deliver innovative products to our dealers and farmer customers."
Dr Hagai Karchi, CEO for Evogene, stated: "We are very pleased to have the opportunity to collaborate with Mertec, an industry leading soybean germplasm and seed supplier. Soybean is the most widespread biotechnology enhanced crop globally, and we are confident that certain traits in our existing development pipeline will provide the basis for significant improvements."
About Evogene Ltd
Evogene's mission is to become a leading developer of improved traits in plants. The Company's high-throughput platform combine state-of-the-art computational genomics, molecular biology and advanced classical breeding methods in order to accelerate, direct and mimic the natural evolution process. Evogene's current product development efforts are focused on enhanced fiber in cotton; abiotic stress tolerance and nitrogen use efficiency for various crops; and a unique plant platform for the production of therapeutic proteins. For additional information, please visit Evogene's Website at www.evogene.com.
About Mertec, LLC
Mertec, LLC, based in West Point, Iowa, is a leading breeder and developer of soybean germplasm for the seed trade. Mertec has an extensive line-up of soybean germplasm for the maturities in the United States. Mertec has entered into strategic relationships with biotech and life science companies to deliver the latest traits and technologies to farmer growers in Mertec's high yielding soybean germplasm.
Contact Information:
Evogene:
Ofer Haviv
COO & CFO
ofer.haviv@evogene.com
Tel: +972-8-931-1905
Mertec LLC:
Joseph H. Merschman
COO & CFO President
joem@merschmanseeds.com
Tel: +1-319-837-6111
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