Paradigm Genetics Exceeds 4th Milestone In Monsanto Pact

Dow Jones Newswires 6mar01

RESEARCH TRIANGLE PARK, N.C. -- Paradigm Genetics Inc. (PDGM) said it exceeded the fourth consecutive milestone in its commercial partnership with Monsanto Co. (MON).

In a press release Tuesday, Paradigm said it will receive an undisclosed accelerated milestone payment.

Under terms of the partnership, Paradigm is using its industrial-scale GeneFunction Factory to discover the function of genes selected by Monsanto for use in its product development program. Paradigm shares in any product revenue generated through this collaboration in the form of royalties.

The agreement was expanded last May to include Renessen LLC, a joint venture between Monsanto and Cargill Inc., which develops quality traits and customized products that enhance the functionality of grains, oilseeds and other crops.

Paradigm Genetics is industrializing the process of gene function discovery for human health, nutrition, crop production and industrial products. Its Web site is http://www.paragen.com