ROSGD Rosetta Genomics Ltd. (MM)

• Rosetta Green will take part in an EU-funded consortium which is led by the Microalgal Biotechnology Laboratory at Ben-Gurion University and will identify microRNA genes to develop algae with improved traits and for production of human proteins for therapeutic uses  
• The consortium includes 11 leading academic and industrial participants from various areas of algal biology and the total project grant is 6 million Euros

Rosetta Green Ltd. ("Company") (TASE:RSTG), which develops improved crop traits for the agriculture and alternative fuels industries using unique genes called microRNAs, announced it received the EU's approval to take part of the Seventh Framework Program (FP7). The project relates to the development of industrial and therapeutic uses of algae. As part of the program, Rosetta Green will receive a reimbursement grant without royalties, totaling half a million Euros from the European Commission, of which the company expects to receive 138,000 Euros in the coming week.

Rosetta Green's part is to identify microRNA genes that could be used to develop algae with improved traits including production of human a-GAL A protein for the treatment of Fabry disease, and production of growth hormone. Rosetta Green will also identify microRNAs that can be used to increase the efficiency of essential fatty acids (omega 3) production from algae, antioxidants, vitamins and pigments.

The consortium, which is led by Prof. Sammy Boussiba at the Microalgal Biotechnology Laboratory at Ben-Gurion University, includes 11 leading academic and industrial participants from various areas of algal biology. The consortium is named Genetic Improvement of Algae for Value Added Products (GIAVAP) and the total project grant is 6 million Euros and will last three years, starting January 1, 2011.  Rosetta Green's CEO, Amir Avniel, said, "We believe that algae have a huge potential for numerous uses, including industrial and therapeutic and that microRNA genes have a substantial advantage in their ability to improve various traits in algae. The unique benefit of microRNA genes is derived from their role as master regulators that can control entire gene families and therefore could potentially be used to significantly improve key traits. Rosetta Green's technology is at the forefront of this area and the project will expand worldwide recognition of the company and its achievements."

About Rosetta Green

Rosetta Green Ltd. (www.rosettagreen.com) develops improved plant traits, using innovative genes called microRNAs, for the agriculture and biofuel industries. The Company specializes in the identification and use of these unique genes that function as "main bio-switches" to control key processes in major crops such as corn, wheat, rice, soybean, cotton, canola and algae. Rosetta Green's current trait development portfolio includes improved abiotic stress tolerance, increased yield, improved nitrogen use efficiency, improved cotton fiber quality, increased yield for canola and soybean, increased oil content in algae, castor bean and canola for the biofuel industry and improved algal traits for various industrial applications. Rosetta Green was formed in 2010 by the spin-off of the agro-biotechnology division of Rosetta Genomics Ltd (Nasdaq:ROSGD). Rosetta Green completed its IPO on the Tel Aviv Stock Exchange in February 2011 (TASE:RSTG). For additional information please visit Rosetta Green's website at www.rosettagreen.com.

The Rosetta Green logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8831

About the FP7

The R&D Framework Program of the European Union was founded in 1984 with the goal of increasing European competitiveness in research and development. The Seventh Framework Program operates 2007-2013 with a total budget of over 50 billion Euros, which is divided among several international R&D consortia. Israel is the only country outside of the European Union that takes part in this program and has participated for nearly a decade.

This press release contains "forward-looking statements." These statements include words like "may," "expects," "believes," "scheduled," "potentially" and "intends," and they describe opinions about future events. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of Rosetta Green Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

CONTACT: Investor Relations
         Shirley Yom-Tov
         Shirley.yomtov@rosettagreen.com

Rosetta Genomics Ltd. (MM) (NASDAQ:ROSGD)
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Rosetta Genomics Ltd. (MM) (NASDAQ:ROSGD)
過去 株価チャート
から 6 2023 まで 6 2024