November 10, 2003

US' Companies Athenix Corp & Eden Enterprise to Develop New Corn Hybrids

Athenix Corp., a leading US' biotechnology company developing high-value, bio-industrial products for the Agricultural and Chemical Industries using genetic traits from microbes, announced a strategic collaboration with Eden Enterprise, Inc., a leading breeder and supplier of corn seed in the United States.

Together, the two companies will bring newly developed traits from Athenix to the market in corn hybrids developed by Eden. The broad collaboration includes product development and registration. In addition, Athenix will receive multi-year research funding and substantial downstream value share. Eden will market the co-developed corn hybrids using their established industry channels.

Till date, financial terms were not disclosed.

"We are very pleased to work with Eden Enterprise and to have access to their outstanding corn lines," said Mike Koziel, President and CEO of Athenix. "The combination of Eden's excellent germplasm with our innovative traits will provide growers with corn hybrids that have superior yield and quality."

"We are focused on products and the partnership with Eden is an essential component of our business strategy to gain market access in key crops," added Gregory Lewis, Vice President of Business Development for Athenix. "This partnership leads to a significant competitive advantage in creating commercially valuable corn seed."

Harry Stine, President of Eden Enterprise, said: "We are excited about our new partnership with Athenix. We are certain that this collaboration will further strengthen our ability to deliver innovative products to our customers."