Modular Genetics Achieves Year One Milestones in Agreement with Monsanto Company

Modular Genetics, Inc. has announced the achievement of all year-one milestones under its three-year research collaboration agreement with Monsanto Company to advance Monsanto's protein optimization platform.

Achievement of these milestones triggers payments to Modular. Additional payments from Monsanto are based on the achievement of further milestones.

"We are delighted with the progress that we have made to date in our collaboration with Modular Genetics," said Tom Adams, Monsanto's director of yield and emerging technologies.

"The rapid accomplishment of these milestones has allowed us to produce and test a number of new gene variants that could ultimately lead to exciting agricultural technology that benefits farmers."

"Modular's proprietary automated technology enables rapid engineering of valuable new products. We are confident that our work with Monsanto will continue to produce significant results as other milestones are achieved," said Modular President and Chief Scientific Officer Kevin A. Jarrell.