Origin Agritech Limited (Nasdaq:SEED) has landed a big deal with Chinese Academy of Agricultural Sciences, as they were awarded the patent rights for the Bt-gene.
BT, or bacillus thuringiensis, is used to combat crop predators like the tomato hornworm.
The agreement is via Origin Biotech, a subsidiary of Origin Agritech Limited.
Although this happened in the latter part of September, news is just getting out on the deal and what it could mean to Origin.
The rights for Origin are comprehensive, including the right to develop, enhance and improve the Bt-gene. They also are empowered to sub-license the technology to third parties in order to work on traits for specific products.
They can also develop their own line of crops products and market them globally.
If Origin successfully commercializes Bt-gene, it could dramatically increase the value of the company.
Origin Agritech Limited closed the week at $8.90, gaining $0.64, or 7.75 percent.
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