Israel’s Compugen announced that Evogene, its agricultural biotechnology subsidiary, is in the final stages of closing a two million dollar private placement with a group of Israeli, European and US investors.
Evogene is an emerging company focused on the development of tailor-made plants and plant biofactories for the improvement of crops and plant derived products. The company merges molecular biology and computational technologies with advanced classical breeding technologies.
Compugen's agricultural biotechnology activity was initiated in 1999 as a division of Compugen with the expectation that it would be spun off as a separate company in order to allow Compugen to maintain its focus on human therapeutics and diagnostics. In January 2002, this was accomplished through the co-founding of Evogene as a majority-owned subsidiary of Compugen. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
