Devgen/Sumitomo Chemical extend research deal
Belgian biotechnology company Devgen (Ghent) has renewed its research and development collaboration with Sumitomo Chemical for a further three-year term. Devgen will receive funding for its research activities and be eligible for royalties. The two companies have been working together since 2001 ( Agrow No 425, p 2). They agreed a two-year extension in 2006 ( Agrow No 499, p 5). Sumitomo believes that the renewal of the deal will enhance the probability of finding a unique and safer active ingredient. In 2007, Devgen entered into a five-year R&D and technology exchange agreement with Monsanto ( Agrow No 514, p 2) before Monsanto acquired a 5.9% stake in it later that year ( Agrow No 528, p 5). Towards the end of last year, Devgen closed its pharmaceutical division to fully focus on the development of its agricultural business ( Agrow No 556, p 1).