Biogemma develops genetically engineered corn using genes found by Evogene.
Gene discovery company Evogene Ltd. (TASE:EVGN) will receive €1.5 million from French agricultural biotechnology company Biogemma SAS, which has decided to extend its contract with Evogene. Biogemma develops genetically engineered corn using genes found by Evogene.
The genes found by Evogene have traits that can potentially boost crop yields and protect them against fungi.
The original agreement was signed in early 2010, and Biogemma has extended it by one year.
Evogene's share price rose 2.8% by midday today to NIS 17.47, giving a market cap of NIS 530 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 1, 2010
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