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In June 2002, we entered into a three-year worldwide exclusive development and option agreement with ArborGen, LLC to develop our technology in certain species of trees. The ArborGen Agreement also grants ArborGen an option to acquire an exclusive worldwide license to commercialize our technology in various other forestry products, and upon the execution of a license agreement, we will receive a license fee and royalties from ArborGen.
ArborGen’s drive toward improving the sustainability of the forestry products industry could be enhanced by the inclusion of our technology. The prospect of faster growing trees and trees with enhanced resistance to certain environmental stresses are of great interest to the forestry industry.
Pursuant to terms in the original June 2002 agreement, ArborGen extended the term of the agreement twelve months to June 28, 2006.
To learn more about ArborGen, please visit their website.
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