HAYWARD, Calif.--()--Mendel Biotechnology, Inc. (“Mendel”) announced today the completion of a financing round in which ZBI Ventures (the private equity investment arm of Ziff Brothers Investments), Capricorn Investment Group, and CFM became new investors in Mendel. In connection with these investments, a ZBI representative will be joining the board. In addition, Monsanto has made an additional investment in Mendel. Mendel will be using the proceeds to support the growth of its new BioEnergy seeds and feedstock business, as well as the further development of its core technology platforms. The Company also may use a portion of the proceeds to repurchase shares from existing share and option-holders, thereby restructuring the shareholder base of the company.
“We are excited to work with Mendel as they develop a pioneering BioEnergy seeds and feedstock business, and continue as a leader in agricultural biotechnology with Monsanto.”
“Mendel was very pleased to have ZBI Ventures lead this financing round, and is very pleased to have been able to broaden our investor base, with three new investors, to support the growth of the company,” said Neal Gutterson, Mendel’s President and Chief Executive Officer. “We expect to benefit from their knowledge of the agricultural and energy sectors. We are equally pleased to see the continued commitment by Monsanto to Mendel, both in our core technology collaboration and to our future growth in cellulosic biofuels.”
“Mendel is a unique company, with strong commercial collaborations, in the agricultural sector through Monsanto, and in the biofuels sector through BP,” said Neil Wallack, President of ZBI Ventures. “We are excited to work with Mendel as they develop a pioneering BioEnergy seeds and feedstock business, and continue as a leader in agricultural biotechnology with Monsanto.”
Robb Fraley, Monsanto’s Chief Technology Officer, noted that “Mendel has been an important and beneficial collaborator for Monsanto, providing important technologies that support our pipeline. We look forward to our continued involvement with Mendel and we’re excited to see their research expand into the cellulosic biofuels industry.”
About Mendel Biotechnology
Mendel Biotechnology, Inc., a closely-held private company, has been a pioneer in the application of functional genomics to the study of plant genes. Mendel has identified and patented the use of genes that control many aspects of plant growth and development, and is using such inventions to develop or co-develop new plant varieties with improved productivity and quality. Mendel has relationships with leading agricultural, forestry and horticulture companies for the commercialization of improved seed and plant products, and is developing new seed products for the emerging bioenergy market, focused on cellulosic ethanol. For more information, visit: www.mendelbio.com.
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