NEW YORK (GenomeWeb News) – Agricultural genomics company Floragenex has received a strategic investment from Illinois Foundation Seeds, a research and licensing company focused on corn technologies.
Floragenex did not disclose the amount of the investment, which gives Illinois Foundation Seeds access to technology for research and breeding efforts in the dent corn and sweet corn markets.
Based in Eugene and Portland Ore., Floragenex has an exclusive license to restriction site associated DNA, or RAD, sample preparation and sequencing technology that was developed at the University of Oregon.
The RAD technique supports researchers seeking SNP information in species that lack assembled reference genomes.
As part of the investment agreement, Tim Johnson, division president of Illinois Foundation Seeds, will join the board at Floragenex to “provide support as the company continues to grow into new markets and reach new customers,” the company said.