Futuragene/Biocentury deal on GM cotton
UK company FuturaGene (London) has agreed a licensing deal with Chinese seed company Biocentury Transgene (Shenzen) to provide cell wall modification and salt tolerance genes for development in cotton plants in China. Biocentury will develop cotton plants with improved and increased yield, fibre quality and salt tolerance. The two companies will share revenues generated by the newly developed cotton. Futuragene recently received a patent in China covering its drought tolerance gene for use in both food and non-food crops. It also recently licensed its drought tolerance technology to Bayer CropScience for use in cotton globally. It says that the global annual cotton seed and trait market is valued at over $850 million, with China constituting approximately 20% of it.