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Paradigm, Celera enter strategic alliance in Ag-Genomics

Paradigm Genetics Inc. (Nasdaq: PDGM) of Research Triangle Park and Celera Genomics (NYSE: CRA) of Rockville, Md., have formed a strategic alliance in agriculture-genomics. Under the terms of the arrangement, Paradigm will acquire Celera's AgGen plant genomics and genotyping business and become the exclusive marketing partner to provide Celera services to the plant-based agriculture industries.

"This strategic partnership means that Paradigm can now offer the full array of agricultural genomic technologies, from gene sequencing, genotyping, and marker-assisted breeding to gene function discovery, gene expression analysis, phenotypic analysis and biochemical profiling," said John A. Ryals, Ph.D., Paradigm's CEO and president.

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Upon closing of Paradigm's acquisition of the AgGen genomics and genotyping business, Paradigm's new business unit will be named ParaGen.

As part of the transaction, Celera will receive 422,459 shares of Paradigm common stock and will share future service revenue with Paradigm. Financial details of the marketing partnership were not disclosed.

"We are pleased to enter this relationship with Paradigm Genetics," said J. Craig Venter, Ph.D., chair of Celera's scientific discovery board. "By working with Paradigm, we should realize value from services for the plant-based agricultural industry, while focusing our internal resources on activities related to Celera's therapeutic discovery and online business."

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Paradigm, Celera enter strategic alliance in Ag-Genomics

BT Catalyst, Feb, 2002

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