Companies Will Focus Efforts on Developing Novel Fungicides
CAMBRIDGE, Mass. and ST.LOUIS – June 27, 2013 – Nimbus Discovery, LLC, a biotechnology company discovering novel approaches for previously inaccessible disease targets, and Monsanto Company, today announced a collaboration to develop broad-spectrum fungicides, with new modes of action, that help farmers control diseases and promote overall plant health.
Fungal infections appear as rusts, leaf spots and blights on a range of important food crops and are estimated to result in significant global crop losses each year.
Under the terms of the agreement, a jointly-owned entity will be created that has access to Nimbus’ validated computational platform. Nimbus, with its innovative research tools together with Monsanto’s agricultural testing capabilities will co-develop agricultural fungicides. Monsanto will have access to applications within agriculture and Nimbus will retain rights for all other applications. Financial terms were not disclosed.
“Working with Monsanto gives Nimbus a unique opportunity to showcase its integrated computational chemistry and drug discovery strengths in the global agricultural marketplace,” said Rosana Kapeller, M.D., Ph.D., Chief Scientific Officer of Nimbus. “This partnership demonstrates the broad applicability of the Nimbus platform and the ability of the Nimbus team to extract the greatest value from our scientific assets.”
Monsanto’s corporate venture group has an on-going strategic alliance with Atlas Venture, founder of Nimbus Discovery, to explore co-investment opportunities in early-stage life sciences technology companies. This announcement is an investment supported by the alliance.
“Part of our commitment to bringing new technologies to agriculture is identifying innovators we can work with to deliver solutions for our farmer customers,” said Steve Padgette, Monsanto R&D investment strategy lead. “Nimbus is breaking new ground with promising and novel work that has strong potential to be applied in agriculture. We look forward to working with them through this new collaboration, which will complement our own research capabilities.”
Nimbus Discovery, a biotechnology company, harnesses cutting-edge computational technologies to uncover breakthroughs in small molecule pharmacology. Nimbus focuses on medically important and highly sought-after disease targets that have proven inaccessible to traditional industry approaches. Nimbus’ robust pre-clinical pipeline includes novel agents for the treatment of cancer, metabolic disease and inflammation. The company is organized as a constellation of small, nimble teams of experienced drug-hunters deployed across program-focused subsidiary companies. Each team is freed from conventional barriers to scientific success, chartered to create solutions, and geared for program asset deals with leading pharmaceutical companies. Founded in 2009, Nimbus partnered with Schrödinger to invent and apply a physics-based approach that establishes a new standard for rational drug design. Nimbus is backed by world-class life science investors, including Atlas Venture, SR One, Lilly Ventures and Bill Gates. For more information please visit www.nimbustx.com.
About Monsanto Company
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world’s natural resources such as water and energy. To learn more about our business and our commitments, please visit: www.monsanto.com. Follow our business on Twitter® at www.twitter.com/MonsantoCo, on the company blog, Beyond the Rows® at www.monsantoblog.com, or subscribe to our News Release RSS Feed.
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Certain statements contained in this release are “forward-looking statements,” such as statements concerning the company’s anticipated financial results, current and future product performance, regulatory approvals, business and financial plans and other non-historical facts. These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the company’s actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: continued competition in seeds, traits and agricultural chemicals; the company’s exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public acceptance of biotechnology products; the success of the company’s research and development activities; the outcomes of major lawsuits and the previously-announced SEC investigation; developments related to foreign currencies and economies; successful operation of recent acquisitions; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company’s estimates related to distribution inventory levels; the company’s ability to fund its short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions, natural disasters and accidents on the agriculture business or the company’s facilities; and other risks and factors detailed in the company’s most recent Form 10-K Report to the SEC. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.