LANSING, Mich., Jan. 13, 2014 /PRNewswire/ -- Neogen Corporation (NASDAQ: NEOG) announced today that it has licensed patents owned by Cargill, Inc. and Branhaven LLC considered key for genomic evaluation to improve traits in beef and dairy cattle. The technology, known as BeefGen, identifies key genomic tools to improve both meat and milk production.
"This agreement allows Neogen unencumbered access to extensive cattle genomic analytic and bioinformatic knowledge amassed by Cargill researchers and their partners," said Dr. Jason Lilly, Neogen's vice president of corporate development. "This access to the intellectual property developed by one of the world's largest protein producers through years of research should significantly add to our efforts to continue providing the most useful and innovative animal genomic tools for worldwide cattle producers."
Neogen, through its GeneSeek subsidiary, will use the licensed technology as it continues to work with cattle seed stock breeders, cow/calf operators, feedlot operators, and dairy producers to improve their herds through genetic-based scientific data that will be used for selection of future animal generations."Cargill is excited to enter into this license agreement with Neogen to ensure that the work started over a decade ago by Cargill and its partners is utilized in the market place more broadly. The genetic testing and bioinformatic application of thousands of cattle made the technology and its patents possible," said George Kwasniak, Cargill's vice president of business development. "With Neogen's already existing business we believe this will allow them to effectively leverage the years of work done by Cargill and its partners." For beef producers, these genetic tools help identify animals best suited to optimize weight gain, tenderness, carcass quality, and meat yields that are critical in the maximization of value of each animal harvested. Furthermore, the technology assists in identifying genetically superior animals for breeding purposes that will in turn produce high quality offspring.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV