· Limerick based biotechnology firm’s patented equipment could make evaluation cheaper, faster
· New technology designed to accelerate plant breeding
· Monsanto has exclusive rights to Stokes Bio’s patented technology for use in agriculture
LIMERICK-BASED biotechnology firm, Stokes Bio Limited, and Monsanto Company announced this week that they have entered into a licensing agreement and R&D collaboration, which is expected to help accelerate the pace of new advancements in plant breeding.
Founded and based in 2005 as part of a commercial spin-off from the Stokes Institute, at the University of Limerick, Stokes Bio is dedicated to the development and application of microfluidic technology to radically improve and enhance life science research and molecular diagnostics.
Under the agreement, which is a significant global win for Irish research, Monsanto has exclusive rights to Stokes Bio’s patented technology for use in agriculture.
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality.
“The new technology has applications in areas ranging from plant genetics through the entire spectrum of human healthcare,” said Mark Davies, cofounder of Stokes Bio. “These new instruments will allow identification of plants with the best gene pool at a much earlier stage. It is necessary to look beyond the technology to appreciate what a step forward this could be in terms of food production.”
“Monsanto’s strength lies in our robust discovery engine which fuels our industry-leading R&D pipeline” said Bob Reiter, vice president of breeding technology for Monsanto. “We are constantly looking for opportunities to collaborate with other companies and adopt new technologies that could help speed up the rate of scientific discovery. More efficient gene analysis means we can leverage this knowledge in our technology pipeline and be able to offer our farmer customers innovative products that boost productivity on the farm, faster than ever.”
Stokes Bio was established in 2005 by Mark Davies and Tara Dalton, with financing from Kernel Capital, as a spin-off company from the Stokes Institute at University of Limerick. In addition to Kernel Capital, the University of Limerick and Enterprise Ireland also are shareholders in the company.
The agreement is an excellent validation of Stoke Bio’s core platform, said Daniel O’Mahony, a partner in Kernel Capital. “We believe Stokes Bio’s technology will revolutionise gene expression profiling in the future,” O’Mahony said.
