CEO of Dow AgroSciences Announces Milestone in Wall Street Presentation
INDIANAPOLIS, and RICHMOND, Calif., Feb. 12 /PRNewswire-FirstCall/ -- Dow AgroSciences LLC and Sangamo BioSciences, Inc. (Nasdaq: SGMO) today announced the successful completion of a key research milestone as part of their joint Research and Commercial License Agreement. This milestone represents the successful application of Sangamo's zinc finger DNA-binding protein nuclease (ZFN(TM)) technology in precision genome editing of a native plant gene with the aim of improving a valuable trait in canola, a crop central to Dow AgroSciences' business.
"It is my pleasure to announce we have achieved another significant milestone in the validation of zinc finger protein capabilities in plants," stated Jerome Peribere, the president and CEO of Dow AgroSciences, during his presentation at the Goldman Sachs Twelfth Annual Agricultural Biotech Forum. "We have demonstrated the robust utility and flexibility of the Sangamo technology in precision editing of a native plant gene, confirming the power of zinc finger proteins to accomplish specific and targeted modifications of the plant's own genetic sequence. The technology shows potential to enable the delivery of 'designer' crops into new and existing markets."
The milestone is the first demonstration of the precise modification of the DNA sequence of an existing gene in canola designed to generate an improved trait. This further demonstrates the ability of ZFNs to act at their intended target in crops of commercial importance.
"Sangamo's technology is revolutionizing scientists' ability to modify genes in cells. The power of the ZFP platform is being harnessed by Sangamo in therapeutics, our partner Sigma-Aldrich in research reagents, and, as we heard today, by Dow AgroSciences in plant agriculture to positively effect changes in plant genomes at a speed, efficiency, and specificity which heretofore was only considered a dream," said Edward Lanphier, Sangamo's president and CEO. "Dow AgroSciences has the expertise to implement our technology successfully into its precision trait development program."
The three-year agreement initiated October 2005 provides Dow AgroSciences with access to Sangamo's proprietary ZFP technology for the development of products in plants and plant cell cultures. During the initial three-year research term, Dow AgroSciences has the option to obtain a commercial license to sell products incorporating or derived from plant cells generated using Sangamo's ZFP technology, including agricultural crops, industrial products and plant-derived biopharmaceuticals.
Sangamo has also developed sequence-specific ZFNs for precision gene modification and targeted gene insertion. These technologies have the potential to play a major role in bringing new discoveries in genomics forward to the marketplace. The use of Sangamo's ZFP technology to enable the efficient and reproducible generation of combinations or stacks of multiple traits and the insertion of new traits could address increasing demand.
About Dow AgroSciences LLC
Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a top-tier agricultural company that combines the power of science and technology with the "Human Element" to constantly improve what is essential to human progress. Dow AgroSciences provides innovative technologies for crop protection, pest and vegetation management, seeds, traits, and agricultural biotechnology to serve the world's growing population. Global sales for Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company, are $3.8 billion. Learn more at http://www.dowagro.com.
About Sangamo BioSciences, Inc.
Sangamo BioSciences, Inc. is focused on the research and development of novel DNA-binding proteins for therapeutic gene regulation and modification. The most advanced ZFP Therapeutic(TM) development program is currently in Phase 2 clinical trials for evaluation of safety and clinical effect in patients with diabetic neuropathy. Phase 1 clinical trials are ongoing to evaluate a ZFP Therapeutic for peripheral artery disease. Other therapeutic development programs are focused on stem cell mobilization, ALS, cancer, HIV/AIDS, neuropathic pain, nerve regeneration, Parkinson's disease and monogenic diseases. Sangamo's core competencies enable the engineering of a class of DNA-binding proteins known as zinc finger DNA-binding proteins (ZFPs). By engineering ZFPs that recognize a specific DNA sequence Sangamo has created ZFP transcription factors (ZFP TF(TM)) that can control gene expression and, consequently, cell function. Sangamo is also developing sequence-specific ZFP Nucleases (ZFN(TM)) for gene modification. Sangamo has established strategic partnerships with companies outside of the human therapeutic space including Dow AgroSciences, Sigma-Aldrich Corporation and several companies applying its ZFP Technology to enhance the production of protein pharmaceuticals. For more information about Sangamo, visit the company's web site at http://www.sangamo.com.
This press release may contain forward-looking statements based on Dow AgroSciences LLC and Sangamo BioScience, Inc.'s current expectations. These forward-looking statements include, without limitation, references to the achievement of additional milestones under the Research and Commercial License Agreement, the anticipated execution of commercial and collaborative agreement with Dow AgroSciences, the application of Sangamo's ZFP TFs and ZFNs in plant agriculture, and the impact of milestone achievements on regulatory process and commercialization of new crop products. Actual results may differ materially from these forward-looking statements due to a number of factors, including technological challenges, Dow AgroSciences ability to develop commercially viable products and technological developments by our competitors. See the company's SEC filings, and in particular, the risk factors described in the company's Annual Report on Form 10-K and its most recent Quarterly report on Form 10-Q. Dow AgroSciences and Sangamo BioSciences, Inc. assume no obligation to update the forward-looking information contained in this press release.
(TM)Trademark of Sangamo Biosciences, Inc.
|SOURCE Sangamo BioSciences, Inc.|
Copyright©2008 PR Newswire.
All rights reserved