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Rosetta Genomics Opposes Monsanto Acquisition of Former Subsidiary

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Just days after the acquisition of agricultural microRNA firm Rosetta Green by Monsanto was cleared by Israeli antitrust authorities, Rosetta Green’s former parent from Rosetta Genomics has opposed the deal.

According to a Rosetta Green filing with Israeli regulators, Rosetta Genomics argued that the transaction would inappropriately give Monsanto access to proprietary software-related intellectual property that had been licensed to Rosetta Green.

Rosetta Green also said that Rosetta Genomics is seeking a 7.5 percent portion of the acquisition’s proceeds.

Rosetta Green called Rosetta Genomics’ claims groundless.

Rosetta Genomics created Rosetta Green in 2008 as an in-house unit to explore the use of its miRNA technologies in agriculture (GSN 10/30/2008).

In 2010, Rosetta Green was set up as a standalone subsidiary of Rosetta Genomics, which held onto a 76 percent stake in the new company (GSN 6/3/2010).

By late 2011, as it faced a cash shortfall, Rosetta Genomics sold the majority of its ownership in Rosetta Green to undisclosed investors for $900,000 and the promise of an additional $2 million if the company was acquired within three years for at least $90 million (GSN 12/22/2011).

In late January, Rosetta Green disclosed that it had signed a deal to sell the majority of its assets to Monsanto, which has steadily been increasing its efforts in RNAi and related applications, for $35 million.

In a statement issued this week, Monsanto said that the transaction has closed, with all of Rosetta Green's employees remaining with the company.

Officials from Rosetta Genomics did not return a request for comment.

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