FuturaGene up 13% on stake increase
By Ed Hammond in
Published: May 5 2009 20:03 | Last updated: May 5 2009 20:03
One of the world’s biggest forestry companies on Tuesday gave a show of confidence in plant genetic modification research when it increased its stake in FuturaGene, the
FuturaGene, which specialises in plant cell wall modification for the biofuel, forestry and agricultural markets, announced that it would be issuing 4.4m new shares to the International Institute of BioScience Research and Development (IIBRD), to raise £1.5m.
In a statement, FuturaGene said IIBRD, a Delaware-based operation owned by a “major industrial group”, would be increasing its stake to 9 per cent, making it the largest strategic shareholder in the company.
More at: http://www.ft.com/cms/s/0/5d9a4cb6-3987-11de-b82d-00144feabdc0.html
The plant cell wall provides the cellulose that is the source of all industrial fiber needed for paper, board, wood, cotton and a multitude of other forestry or agricultural products, including the sugars used in second generation bioethanol production, as well as the chemicals for many plastics. At the heart of our technology lies our capability of producing plants that have altered cell walls, resulting in enhanced growth and biomass, increased cellulose, improved fiber properties, improved digestibility by livestock, improved industrial processability and increased yield properties. We have secured broad intellectual property covering plants with modified cell walls showing such altered properties, protecting our developments and creating barriers to potential competitors. We have progressed beyond gene discovery and we are able to effect these changes in plant cell walls using our patented cellulose binding domain genes, cel1 genes and novel cell wall polysaccharide modifying genes .