October 4, 2016
Metabolix and North Carolina State University Enter into Worldwide, Exclusive License Agreement for Advanced Crop Technologies
WOBURN, Mass., Sept. 29, 2016 (GLOBE NEWSWIRE) — Metabolix, Inc. (NASDAQ:MBLX), today announced that it has entered into a worldwide, exclusive license agreement with North Carolina State University (“NC State”) for advanced crop science technology used to improve crop yield. This technology was developed by Dr. Heike Sederoff, Professor, Department of Plant and Microbial Biology and colleagues at NC State. This license will expand the intellectual property portfolio being assembled by Yield10 Bioscience, the crop science venture launched by Metabolix in 2015. Yield10 is focused on developing proprietary, breakthrough technologies to create step-changes in yield for major food and feed crops to enhance global food security.
“The technology developed by Dr. Sederoff and her team at NC State holds significant promise for developing new yield traits based on advanced metabolic engineering methods to improve carbon capture and selectively control carbon partitioning in plants,” said Oliver Peoples, Ph.D., chief scientific officer. “Work on these yield traits has been done using camelina, a model system for oilseed crops such as canola and soybean. We look forward to continuing our collaboration with NC State and advancing the technology through to development and commercialization.”
“Dr. Sederoff’s technology is an innovative approach to identifying new ways to boost yield in agriculturally significant crops by focusing on de-bottlenecking crucial pinch points in plant metabolism,” said Dr. Kultaran Chohan, Ph.D., Associate Director with the Office of Technology Commercialization and New Ventures (“OTCNV”). “This license covers technology that is complementary to the approach Yield10 is taking and is currently being evaluated for boosting yield in oilseed and other crops.”
About NC State’s Office of Technology Commercialization and New Ventures
The OTCNV facilitates the commercialization of innovations and discoveries made at NC State. Comprised of a team of professionals with business, academic, and legal backgrounds, the OTCNV connects researchers, industry, and the entrepreneurial community in order to license NC State inventions. With an emphasis on supporting economic growth and enabling societal well-being, these commercialization efforts have resulted in over 500 products brought to market and the launch of over 100 startup companies.
Metabolix, Inc. is implementing a strategic plan under which the Company has wound down its legacy PHA biopolymer business and Yield10 Bioscience will become its core business with a focus on developing disruptive technologies for step-change improvements in crop yield. Yield10 is leveraging Metabolix’s extensive track record of innovation based around optimizing the flow of carbon intermediates in living systems. Yield10 is working on new approaches to improve fundamental elements of plant metabolism through enhanced photosynthetic efficiency and directed carbon utilization. Yield10 is advancing several yield traits in development in crops such as camelina, canola, soybean and corn. The Company is based in Woburn, MA.
For more information, visit www.metabolix.com. (MBLX-G)
For more information on Yield10 Bioscience, visit Yield10.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical, including, without limitation, expectations regarding the progress of Yield10, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including the risks and uncertainties detailed in Metabolix’s filings with the Securities and Exchange Commission. Metabolixassumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
Metabolix Contact: Lynne H. Brum, 617-682-4693, LBrum@metabolix.com
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