NEW YORK (GenomeWeb News) – Australia’s Commonwealth Scientific and Industrial Research Organization has acquired an undisclosed equity stake in Genetic Solutions, an Australian developer of gene technology for the beef industry, CSIRO said today.
Under the deal, CSIRO will convert royalties and fees Gene Solutions owes it into shares of the company.
CSIRO also said the deal will "streamline" licensing terms for future products from ongoing research between it and Genetic Solutions.
Additional terms were not disclosed.
Genetic Solutions was founded by two CSIRO researchers, and currently markets DNA tests for beef marbling and tenderness, as well as a test for beef tracing.