Monsanto Company (NYSE: MON) and TargetGene Biotechnologies LTD revealed a license agreement to advance the application of its proprietary techniques in international agriculture. TargetGene is an innovative genome-editing using RNA-guided gene-editing techniques.
Monsanto said that under the agreement, it was awarded an exclusive license to TargetGene's novel and proprietary platform to deliver continuous enhancements in agriculture. The company also created an equity position in the private Israel-based company. The companies did not reveal any additional terms of the agreement.
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The company's biotechnology lead, Tom Adams, commented, "TargetGene has uniquely positioned itself to develop precision-editing techniques that can improve a broad range of solutions that help growers around the world deliver better harvests. Monsanto has conducted extensive research with various gene-editing approaches for years, and we believe access to TargetGene's technology will help drive further precision and efficiency within the company's robust plant breeding and biotechnology pipelines."
Similarly, TargetGene's CEO, Yoel Shiboleth, said, "TargetGene is pleased to be working with Monsanto to enable the next generation of agricultural innovation through the application of our genome-editing technology. In a time of increasing environmental challenges and a growing global population to feed, this science has never been more important."