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ECOGEN ASSUMES CONTROL OF HEBREW UNIVERSITY'S YISSUM AGRICULTURAL RESEARCH PARTNERSHIP

 ECOGEN ASSUMES CONTROL OF HEBREW UNIVERSITY'S YISSUM
 AGRICULTURAL RESEARCH PARTNERSHIP
 LANGHORNE, Pa., Jan. 3 /PRNewswire/ -- Ecogen Inc. (NASDAQ: EECN) announced today that it has acquired control of FRM Agricultural Sciences Partnership (FASP) from Yissum Research Development Company of the Hebrew University of Jerusalem, Israel. With this transaction Ecogen will acquire an additional 30 percent of FASP. Ecogen also has an option to purchase the remaining 19 percent. In September 1991, Ecogen announced that it had purchased 51 percent of the company.
 FASP is developing biopesticides for three major product areas, all outside of Ecogen's current Bacillus thuringiensis (Bt) focus. These product areas, which represent a $1 billion market worldwide, include:
 1) hyperparasitic fungi which kill other fungi, such as powdery mildew that infect plant leaves and inhibit photosynthesis, representing a $650 million market worldwide;
 2) a yeast formulation which protects stored fruit from post-harvest rol; and
 3) a Pseudomonas bacterial biopesticide to control nematodes (microscopic round worms) that infect plant roots. Both the yeast and bacterial products represent a $250 million market worldwide.
 Under the terms of the agreement with Yissum, Ecogen has also purchased rights to a fermentation plant in Israel owned by Yissum. In addition, Ecogen has been granted first refusal rights to agricultural bipesticide technology developed in the future by Yissum.
 The contract purchase price (assuming the exercise of the option to purchase the remaining 19 percent partnership interest) is approximately $2.1 million, payable in Ecogen common stock.
 John E. Davies, chairman and chief executive officer of Ecogen, stated, "What we have acquired is access to a $1 billion market opportunity at little cost to the shareholder. This acquisition further demonstrates Ecogen's continued progress toward becoming a fully integrated biopesticide company with a diversified product portfolio. Our complete ownership of FASP and new affiliation with the Hebrew University of Jerusalem will assist Ecogen in its continued research efforts in the expansion of Ecogen's technologies."
 Ecogen Inc. is an agricultural biotechnology company specializing in biological pest control. The company has developed and is marketing a number of novel and proprietary biopesticides, including Cutlass(R) vegetable bioinsecticide, Foil(R) potato bioinsecticide, Condor(R) forestry and soybean bioinsecticide and Collego(R) rice bioherbicide. The company is also developing products for cotton, corn and home/garden use.
 -0- 1/3/92
 /NOTE TO THE EDITORS: Cutlass, Condor, Foil and Collego are registered trademarks of Ecogen Inc./
 /CONTACT: Peter B. Stevens, vice president and chief financial officer of Ecogen, 215-757-1590, or Anthony J. Russo or Karin Eskenazi of Noonan/Russo Communications, 212-979-9180, for Ecogen; or (investors) Doug Jones of Strategic Growth International, 212-826-9622, for Ecogen/
 (EECN) CO: Ecogen Inc. ST: Pennsylvania IN: SU:


TS-OS -- NY008 -- 6408 01/03/92 09:39 EST
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Publication:PR Newswire
Date:Jan 3, 1992
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