Printer Friendly
The Free Library
23,375,127 articles and books


DNA PLANT TECHNOLOGY UNVEILS SECOND GENERATION GENETICALLY-MODIFIED TOMATO.

OAKLAND, Calif.--(BUSINESS WIRE)--May 19, 1995--At its Annual Meeting of Shareholders yesterday in Oakland, California, DNA Plant Technology Corporation (NASDAQ: DNAP) unveiled the Company's second generation version of its genetically-modified tomato. In addition to the Company's patented Transwitch(R) technology, this latest version utilizes DNAP's own proprietary selectable marker gene and promoter technology.

In a presentation which included providing product samples for tasting by the meeting's attendees, Robert Serenbetz, Chairman and CEO of DNA Plant Technology, indicated that the newest version of the tomato is essentially identical to the Company's current version, which is in test market. He stated, "The superior taste, color and longevity of our tomato remains the same. The only difference is that it replaces the marker and promoter technology which is currently the subject of a dispute with Monsanto Corporation (NYSE: MTC)." Mr. Serenbetz indicated that the Company expects to begin production of the second generation genetically-modified tomato in September for initial launch into retail stores in December.

DNAP also announced that it is engaged in discussions with several parties relating to securing additional capital and is hopeful that it will be able to successfully conclude negotiations in the near future in order to obtain sufficient funds for its operating needs. As previously announced, DNAP recently concluded a private placement of 750,000 shares of its common stock and received approximately $1.4 million in net proceeds.

DNA Plant Technology Corporation is a leading agribusiness biotechnology company focused on developing and marketing premium fresh and processed fruits and vegetables using advanced breeding, genetic engineering and other biotechniques. FreshWorld Farms, Inc., a wholly-owned subsidiary of DNAP, markets a line of premium vegetables under the FreshWorld Farms(R) brand name, including tomatoes, carrot bites (baby whole carrots), sweet red mini-peppers and VegiSnax(R) carrot sticks. DNAP's two-track strategy uses advanced breeding to develop and market improved premium products today, while using genetic engineering to improve flavor and shelf-life of its products for tomorrow.

CONTACT: DNA PLANT TECHNOLOGY

Chris Braunlich

510/450-9394

or

MALLORY FACTOR INC.

Debra Berliner

212/242-0000
COPYRIGHT 1995 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:May 19, 1995
Words:342
Previous Article:Pallet Management Systems Inc. announces third quarter results; completed private placement; net worth increase to record levels.
Next Article:New easy-to-read labels simplify over-the-counter drug products.
Topics:



Related Articles
Somaclonal variation; harvest of an agronomic anomaly.
Please pass the genes: experts weigh worries of engineered ills in new food crops.
Better than the real thing: industry serves up the fruits of tomato biotechnology.
130-year-old pollination mystery solved.
Tomato biotechnology heads for the market.
Diving into the gene pool.
Seedless wonders for winter markets.
Controlling hormone levels optimizes tomato taste, life expectancy.
Seeds of hysteria.
Gene splicing aims to increase starch production in tomatoes.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters