Monday, April 18, 2011

Monsanto (MON) to Pursue Investing in Life Sciences

Saying they want to stay on top of new technologies which have potential to be applied to agriculture, Monsanto (NYSE:MON) said it is pursuing in investment into companies with a life sciences focus.

To that end, Monsanto is working with venture capital firm Atlas Venture, whereby Atlas will look for and identify "early-stage" life sciences companies whose technology could be applied to agriculture in order for Monsanto to make strategic investments in.

Steve Padgette, Monsanto's research and development investment strategy lead, said in a statement, "Our collaboration with Atlas will provide a great opportunity for us to get an early look at promising new technologies that could potentially be introduced into our biotechnology, breeding and agronomic practices work to drive yields even further,"

Monsanto closed Friday at $67.33, falling $0.31, or 0.46 percent.

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