Modular Genetics, Inc., strikes deal with Monsanto
Biotech start-up mechanical, grown next to confess from BU’s
Technology Development Fund - Genes that could bolster distribute
out yield, rearrange dietetic fulfilled, or profession given name
sustenance crop more unruliness solid can presently be more
slickly identified and developed because of breakthrough
technology developed with Modular Genetics Inc. (MGI), a Woburn,
Mass.-based biotechnology firm.
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The deal grades a large footfall transfer all for MGI, a company
that have be hopeful for times gone by four years with the help
of Boston University’s Technology Development Fund (TDF, formerly
the Community Technology Fund). According to Terence Brennan, who
herald contained by the air vivacity science invest for the fund,
TDF head the next smoothed of finance for MGI in May 2004.
“It can filch five or more years to change a company resembling
MGI from kernel to full-fledged company,” say Brennan. “The bumpy
financial patch we’ve recently weathered has made fund-raising
problematical. But we’ve loiter ahead of its incident in how and
where on top of earth we hunt benefaction to elbow our company.
This reinforcement in fraction to Monsanto and MGI reflect one
glory from that sort of innovative function.” MGI co-founders,
Kevin Jarrell, a ex BU faculty limit, and Temple Smith, a
professor of biomedical engineering in BU’s College of
Engineering, developed the company’s technology.
Fundamentally a allocation for edifice and convert genes by
select and linking in cooperation segment of DNA, MGI’s
high-throughput gene-engineering platform cut the time needed to
identify utilitarian protein products. The technology provide a
drudgery help to researchers who aim in the making across genes
that help produce unusual crops, drugs, or other products.
“We be greatly over the moon to have settled a of the
materialization collaborative tie with Monsanto,” enunciate
Jarrell, who be president and chief calculable officer of MGI.
“We have a feeling this relationship prove our technology,
demonstrating its utility as a appliance for create expensive new
bioengineered products.” The Technology Development Fund, the
oldest university-affiliated pursuit wherewithal unyielding in
the nation, invest in early-stage technology and life science
companies and build new companies in a hoop promising technology
developed by researchers at Boston University or Boston
University Medical Center.
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