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AgriBioTech Acquires Interest in Global Agro

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LAS VEGAS--AgriBioTech, a full-service seed company here specializing in the forage and turfgrass seed sector, announced that it entered a biotechnology commercialization and equity stake agreement with Global Agro, a technology resource organization focused on plant agriculture in Encinitas, Calif.

As an equity owner of Global Agro, AgriBioTech will have worldwide rights, exclusive in certain crops, to technology at Global Agro, including rights to technology from the Salk Institute for Biological Studies. Global Agro has an agreement with the institute, another of its equity owners, that allows the company to commercialize and license specific proprietary technologies developed by the institute's Plant Biology Laboratory.

The AgriBioTech worldwide exclusive technology rights are for all turfgrass species and for all forage grasses and certain forage legumes. The proprietary technologies include a package of proprietary genes that appear to regulate plant growth and development.

The technology offers the potential to develop traits of significant interest in turf grass and forage species, including enhanced gene expression, enhanced root growth, enhanced vegetative growth for rapid generation of biomass, and increased disease resistance, according to AgriBioTech.

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