[More on Monsanto]
Australia's Commonwealth Scientific and Industrial Research Organization, or CSIRO, said it's discontinuing research to genetically modify peas because the genetically-modified peas didn't stand up to a risk assessment.
The research, to genetically modify field peas to resist insect attacks and reduce the use of chemical sprays, showed that GM peas caused an immune response in mice, CSIRO said. "Even though this GM field pea research will not be progressed further, the technology is very valuable and we're considering applying it to other research," TJ Higgins, the deputy chief of CSIRO's Plant Industry said in a press release.
The peas- originally developed to combat pea weevil, which CSIRO says can cause losses of up to 30% if left untreated -were nearly fully effective, a study researcher said.
The research halt will be relevant to stocks such as Monsanto Co. (MON), Syngenta AG (SYT) and Bayer AG (BAY), which develop genetically-modified crops, an analyst said.
CSIRO said the findings underscore the value of evaluating GM plants on a case-by-case basis.
CSIRO said it is finalizing arrangements with the Australian Office of the Gene Technology Regulator to dispose of the GM field peas produced during the research.
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