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In the rapidly advancing field of biotechnology, the capability to quicklyidentify and validate genes of interest in key crops is a competitiveadvantage. This contract research agreement and asset purchase combines theunique skills and technologies of both companies to deliver differentiatedcapabilities in gene discovery and validation.
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"At Dow AgroSciences we continue to add cutting-edge tools to our Researchand Development portfolio, and are excited about what this agreement willenable us to add to our existing capabilities," said Daniel R. Kittle, Ph.D.,vice president of Research and Development for Dow AgroSciences. He adds,"This asset purchase and collaboration will accelerate our gene discovery andvalidation efforts as we work to bring revolutionary solutions for ourcustomers. Our past collaborations with Exelixis Plant Sciences have beenhighly productive, and we look forward to continuing that tradition in ourrelationship."
"This deal with Dow AgroSciences will ensure that the assets that havebeen developed at Exelixis Plant Sciences are developed in a way in which theyreceive the critical mass of agricultural expertise and resources theydeserve," said George A. Scangos, Ph.D., president and chief executive officerof Exelixis. "We have collaborated with Dow AgroSciences over the past severalyears and believe they are one of the leaders in agricultural research anddevelopment and we believe the Exelixis Plant Science assets will be avaluable addition to their portfolio."
About Exelixis
Exelixis, Inc. is a development-stage biotechnology company dedicated tothe discovery and development of novel small molecule therapeutics for thetreatment of cancer and other serious diseases. The company is leveraging itsfully integrated drug discovery platform to fuel the growth of its developmentpipeline, which is primarily focused on cancer. Currently, Exelixis' broadproduct pipeline includes investigational compounds in phase 2 and phase 1clinical development for cancer and renal disease. Exelixis has establishedstrategic corporate alliances with major pharmaceutical and biotechnologycompanies, including GlaxoSmithKline, Bristol-Myers Squibb Company, Genentech,Wyeth Pharmaceuticals and Daiichi-Sankyo. For more information, please visitthe company's web site at http://www.exelixis.com.
About Dow AgroSciences
Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a top-tieragricultural company providing innovative crop protection, pest and vegetationmanagement, seed, and agricultural biotechnology solutions to serve theworld's growing population. Global sales for Dow AgroSciences, a wholly ownedsubsidiary of The Dow Chemical Company, are $3.4 billion. Learn more athttp://www.dowagro.com.
Forward-Looking Statement
This press release contains forward-looking statements, including, withoutlimitation, all statements related to the respective capabilities of ExelixisPlant Sciences and Dow AgroSciences with respect to gene discovery andvalidation of novel crop traits, the companies' research agreement and DowAgroSciences' asset purchase. Words such as "will," "believe," "continuing,"and similar expressions are intended to identify forward-looking statements.
