FuturaGene Plc publishes final results for the year ended 31 December 2009
United Kingdom
13 May 2010
FuturaGene Plc ("FuturaGene" or "the Group" or "the Company" AIM:FGN), a leader in
plant genetic research and development for global forestry, biofuel and agricultural
markets, today reports its final results for the year ended 31 December 2009.
Highlights
- Loss for year £2.19 million (2008: £1.56 million)
- Cash at period end of £2.8 million
- Placing of shares in May 2009 raised approximately £1.5 million
- Placing of shares in December 2009 raised £3.0 million
- FuturaGene and Bayer CropScience signed license agreement for drought tolerance technology in cotton
- Licensing agreement with leading Chinese seed producer, BioCentury Transgene Co. Ltd
- Expansion of collaboration agreement with the Research Institute of Tropic Forestry in China
Mark Pritchard,Chairman, commented
"I am delighted to report that 2009 was another year of excellent progress. We have further consolidated our position with a number of key licensing agreements, as a leader in plant genetic research and development for the global forestry, biofuel, and agricultural markets. This has been clearly demonstrated by the cash offer for the Group, being made today by the Company's development and commercialisation partner, Suzano, and to be implemented by a Scheme of Arrangement"
Full release
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