Precision BioSciences, a two-year-old biotechnology startup firm, will work with DuPont in a project designed to increase crop yields while also bringing products to market more quickly.
Precision, the slogan of which is “breaking the genetic code,” focuses on crop genetics, utilizing technology developed in the biochemistry department at Duke University’s Medical Center. The firm’s specialty is genomic molecular biology.
Financial terms of the deal with DuPont were not disclosed.
Pioneer and Precision will manipulate multiple genes in order to speed up product development for corn, soybeans and other crops. According to the companies, Precision’s technology will enable scientists to “insert, remove and stack” traits in a plant’s genome.
Precision’s proprietary technology is called Directed Nuclease Editor, or DNE. The process can be used across biotechnology development from cell line engineering to antivirals, gene therapy and genetic diagnostics, the firm says on its Web site.
"DuPont is firmly established as a world leader in developing and supplying seed and grain products, and we are pleased to have such a strong partner in this field," said Matthew Kane, Precision’s chief executive officer. "Precision’s DNE technology is becoming the gold standard in genome engineering and we believe it will greatly enhance the ability to introduce, remove or regulate genes of choice."
DuPont (NYSE: DD) will work with Precision through its Pioneer Hi-Bred business unit.
"To meet growing demand for food, feed and fuel around the world, we must increase agricultural productivity," said William Niebur, DuPont Crop Genetics Research and Development’s vice president. "DNE technology gives us an important tool to efficiently develop and rapidly deploy improved traits such as drought resistance, pest resistance and increased yield into the Pioneer lineup."
