Preceres LLC Formed to Develop Technologies to Support Breakthrough Agricultural Biological Products
“Monsanto is known for a long history of innovation but part of our commitment to bringing new technologies to agriculture is also recognizing other innovators we can work with to deliver solutions for our farmer customers”
CAMBRIDGE, Mass. Monday March 24, 2014 –(BUSINESS WIRE)–Monsanto announced today the creation of Preceres LLC with founders Daniel Anderson Ph.D., Associate Professor in the Department of Chemical Engineering and the Institute of Medical Engineering and Science at MIT and intramural member of the Koch Institute for Integrative Cancer Research, and Arturo Vegas, Ph.D., Research Associate at MIT. Under the terms of the agreement, Preceres LLC will have access to technology licensed from MIT to develop delivery agents to support the development of innovative biological solutions for farmers.
“The technology from MIT is centered on developing new materials for medicine,” said Anderson. “Working with Monsanto gives Preceres a unique opportunity to showcase methods developed to allow rapid synthesis, formulation, analysis, and biological testing of large libraries of biomaterials for use in medical devices, cell therapy and drug delivery and apply them in a global agricultural context. Through this work we hope to demonstrate the broad applicability of our platform and the ability to apply our scientific discoveries to a critically important area of research.”
The combined use of Preceres’ novel delivery discovery assets with Monsanto’s BioDirect™ technology has the potential to provide new biological options for sustainable pest, virus and weed control.
“The goal of Preceres is to help create highly specific biological control of damaging pests to improve and protect crop yields,” added Roger Wiegand, CEO of Preceres.
This announcement is an investment supported by Monsanto’s corporate venture group, Monsanto Growth Ventures. Financial terms were not disclosed.
“Monsanto is known for a long history of innovation but part of our commitment to bringing new technologies to agriculture is also recognizing other innovators we can work with to deliver solutions for our farmer customers,” said Steve Padgette, Monsanto R&D investment strategy lead. “That’s why we look forward to working with the team through this new collaboration, which will complement our own research capabilities and other collaborations in this important space. We have the potential to co-create products that are very precise and specific in how they work, which is consistent with our vision to create products that enable our customers to produce more in an environmentally sustainable way.”
The newly created company Preceres LLC, is a delivery company focused on agriculture biologicals, harnessing cutting-edge research of MIT founders Daniel Anderson Ph.D., and Arturo Vegas Ph.D. Preceres LLC has a world-class Board of Managers with Daniel Anderson (MIT), Robert Langer (MIT), Stephen Padgette (Monsanto), Robert McCarroll (Monsanto), Jacqueline Heard (Monsanto), and Roger Wiegand (Preceres). To learn more, visit www.Preceres.com.
About Monsanto Company
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world’s natural resources such as water and energy. To learn more about our business and our commitments, please visit: www.monsanto.com. Follow our business on Twitter® at www.twitter.com/MonsantoCo, on the company blog, Beyond the Rows at www.monsantoblog.com, or subscribe to our News Release RSS Feed.
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Certain statements contained in this release are “forward-looking statements,” such as statements concerning the company’s anticipated financial results, current and future product performance, regulatory approvals, business and financial plans and other non-historical facts. These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the company’s actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: continued competition in seeds, traits and agricultural chemicals; the company’s exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public acceptance of biotechnology products; the success of the company’s research and development activities; the outcomes of major lawsuits and the previously-announced SEC investigation; developments related to foreign currencies and economies; successful operation of recent acquisitions; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company’s estimates related to distribution inventory levels; the company’s ability to fund its short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions, natural disasters and accidents on the agriculture business or the company’s facilities; and other risks and factors detailed in the company’s most recent Form 10-K Report to the SEC. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.
SOURCE: Monsanto Co.