The Dow Chemical Company’s DOW fully-owned subsidiary Dow AgroSciences LLC has signed a collaboration agreement with the Institute of Crop Sciences of the Chinese Academy of Agricultural Sciences (ICS-CAAS). Per the agreement, Dow AgroSciences provided ICS-CAAS a royalty-free, non-transferable research and commercialization license for its patented EXZACT Precision Genome Editing Technology that will be used in rice in China.
Both parties intend to develop an industry-leading rice genome editing technology platform through this partnership. They further believe that this platform will help the scientists of ICS-CAAS to reap the benefits of their major investment and technical expertise in rice genomics, transcriptomics, proteomics, and cell biology. It will also enhance their scientific knowledge about rice, thereby enabling them to develop advanced products for China.
Shares of Dow rose around 6.2% to close at $43.60 on Aug 27.
Dow AgroSciences was previously granted an exclusive license by Sangamo BioSciences, Inc. under a collaborative agreement, per which, the company developed the EXZACT Precision Technology platform. Both Dow AgroSciences and ICS-CAAS will now combine their expertise and capabilities, and use this platform to further rice research and product development in China.
According to ICS-CAAS, the collaboration is a significant step as it will speed up the development of rice genome editing technology platform in China. Moreover, it will aid the development of significant new agronomic traits in rice.
According to Dow AgroSciences, being a strategic partner of China for agricultural sustainability, this is part of its commitment to provide innovative and sustainable solutions to increase food security and safety in China. The EXZACT Precision Technology collaboration with ICS-CAAS is proof of Dow’s commitment toward improving rice research and product development for continued food security in China.
Dow currently has a Zacks Rank #3 (Hold).
Better-ranked stocks in the chemical space include Innospec Inc. IOSP, LyondellBasell Industries N.V. LYB and Akzo Nobel N.V. AKZOY. While Innospec sports a Zacks Rank #1 (Strong Buy), both LyondellBasell and Akzo Nobel carry a Zacks Rank #2 (Buy).
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