Dow AgroSciences Aquires St. Louis Life Sciences Company

Chlorogen Inc., once one of the St. Louis region's most promising plant science startups, has ceased research operations and is selling off its technology, said President and Chief Executive David Duncan on Monday.

The company, based in Creve Coeur, announced it has sold to Indianapolis-based Dow AgroSciences LLC exclusive rights to its biotech crop technology for use in developing animal vaccines. Dow also has a non-exclusive right to use the approach in developing biotech crops.Financial terms were not disclosed, but Duncan said this is not the largest transaction Chlorogen expects as it winds down operations. Duncan, the only one remaining of the company's dozen employees, said he still hopes a "golden parachute" of funding will materialize to re-start operations — but he's pursuing the sale of its remaining technology assets.

Source: STLToday.com Full Article