Compugen to Lead Consortium for Developing Resistant Plants, Seeds
By Keren Tsuriel

From Israel's Business Arena - Globes

August 30, 2000
Bioinformatics company Compugen and Hazera Quality Seeds will lead a biotechnology development consortium. The consortium has recently been approved under the Ministry of Industry and Trade's MAGNET (Generic Pre-Competitive Technologies and R&D;) program, "Globes" was told today by MAGNET director Ilan Peled. Compugen recently raised $50 million on NASDAQ, at a company value of $250 million.

This is the first biotechnology consortium approved under MAGNET. The State will provide $1 million of the overall $1.5 million to be invested in the consortium, and the participating companies will furnish the balance. In addition to Compugen and Hazera, the consortium will also include a Rosh Hanikra-based company dealing in tissue cultures and researchers from Bar Ilan University, the Weizmann Institute and the Hebrew University's Faculty of Agriculture.

The consortium will develop technologies for cultivating plants and seeds resistant to harsh environmental conditions and pests. The technology will also increase crop yields and improve the plants' nutritional value and shelf life.

Published by Israel's Business Arena on 30 August, 2000

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