NEW YORK (GenomeWeb News) –Synthetic Genomics has struck a biofuel research and development agreement with ExxonMobil Research and Engineering Company that could bring in up to $300 million for the genomics firm, the companies said today.

The agreement to develop biofuel from photosynthetic algae that would be compatible with gasoline and diesel fuels could bring in $300 million to SGI if certain milestones are met. Exxon plans to spend up to another $300 million internally to support the program.

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