Compugen Joins Consortium for Developing Environment, Pest-Resistant Plants
By Keren Tsuriel

From Israel's Business Arena - Globes

August 13, 2000
Israeli biotechnology company Compugen, which raised $50 million in an offering on Nasdaq at the end of the week, at a $250 million company value, is participating in the new biotechnology consortium, operating under the Ministry of Industry and Trade MAGNET program for Generic Pre-Competitive Technologies and R&D.; "Globes" learned this from MAGNET director Dr. Ilan Peled.

Investment in the consortium totals $1.5 million. Two-thirds will be provided by the State, and the remainder by the project participants. The project began operating in July, following receipt of approval. Other participants include Hazera", Rosh Hanikra Cultures and researchers from Bar Ilan University, the Weizmann Institute of Science and the Hebrew University of Jerusalem Faculty of Agriculture.

The consortium is concentrating on developing infrastructure technologies in plant biotechnology. Advanced technologies will be developed for cultivating plants and seeds excelling in their resistance to harsh environmental conditions and pests. The technologies being developed will not harm crops and seeds, and will lead to improved nutritive quality and longer shelf-life.

Published by Israel's Business Arena on 13 August, 2000

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