“We benefited from our collaborative partnership with Monsanto and appreciate their technological and financial support,” continued Steele. “Landec is interested in continuing to develop and advance its controlled release technology and we have begun initial discussions with seed and crop protection companies who have expressed an interest in the technology. We think our controlled release technology is viable but will require further development and field validation. This technology is unique and proprietary and supported by multiple Landec patent applications.”Concluded Mr. Steele, “Landec’s strategy, as evidenced by the growth in revenue and gross margin during fiscal year 2011, is to continue to shift its revenue mix to higher margin businesses by identifying and taking advantage of high margin business opportunities and by investing in new product development. Pursuing opportunities with leading seed and crop protection companies is consistent with implementing that strategy.”
Landec Announces End Of Monsanto Agreement And A Return Of All Rights
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