ACGT AND CHROMATIN, INC. ANNOUNCE AGREEMENT TO PURSUE TECHNOLOGY PARTNERSHIP

Wednesday, May 5th, 2010 | Clean Tech

Earth Times

ACGT Sdn Bhd (“ACGT”) and Chromatin, Inc. jointly announce their intent to pursue a long term research agreement to develop mini-chromosome technology. Earlier today, Derrik Khoo Sin Huat, CEO of ACGT, a wholly-owned subsidiary of Genting Plantations Berhad, and Dr. Daphne Preuss, CEO of Chromatin, signed a Memorandum of Understanding to solidify the intent of both companies, at a ceremony witnessed by Yang Berhormat Datuk Seri Dr. Maximus Johnity Ongkili, Minister of Science, Technology and Innovation Malaysia (MOSTI). This notable event took place in conjunction with the BIO International Convention taking place in Chicago, a biotechnology conference attended by industry leaders and dignitaries from all over the world. 
 
“This collaborative relationship with ACGT strengthens Chromatin’s business links with Malaysia, which began in late 2008 with an investment from The Malaysian Life Sciences Capital Fund,” said Daphne Preuss. “Genting Plantations Berhad is a leading player in the agricultural sector in Asia, and Chromatin looks forward to a mutually beneficial partnership with ACGT to develop biotech solutions which can increase productivity and enhance value creation for multiple crops,” said Preuss.“ACGT’s partnership with Chromatin builds on our success in establishing strategic business relationships with innovative technology companies,” said Derrik Khoo. “By joining together, we can leverage the strength of both companies to responsibly produce sustainable agricultural products,” said Khoo.

About Chromatin:

Chromatin, Inc. is a biotech company developing and marketing innovative technologies and products that benefit the agricultural, energy, chemical, nutritional, and pharmaceutical sectors. Since 2000, the company has successfully developed and commercialized its proprietary gene stacking technology, which can be used to simultaneously, and precisely introduce multiple genes in any plant. Now, by deploying a broad and unique intellectual property platform, Chromatin is developing specialized sorghum feedstocks for the renewables industry. These next generation, high-quality feedstocks are being designed by Chromatin’s elite team of experts to meet the precise yield and performance requirements of the bioprocessing industry.

About ACGT Sdn Bhd (“ACGT”)

(Formerly known as Asiatic Centre for Genome Technology Sdn Bhd)

ACGT is a centre of excellence in genomic science, focused on the application of genome technology to improve crop plants for sustainable food and fuel. ACGT is a wholly-owned subsidiary of Genting Plantations Berhad, the plantation unit of the Genting Group, one of Asia’s leading conglomerates (www.genting.com). ACGT specialises in DNA sequencing, biomarker discovery, metagenomics and bioinformatics. Its Gasoline Tree Experimental Research Station in Sepang, Selangor has 22 hectares of jatropha experimental plantings. ACGT is a BioNexus status company, awarded by Malaysian Biotechnology Corporation Sdn Bhd, an agency under the purview of the Ministry of Science, Technology and Innovation Malaysia (MOSTI).

About Genting Plantations Berhad (“GENP”)

(Formerly known as Asiatic Development Berhad)

GENP, a 54.7%-owned subsidiary of Genting Berhad, commenced operations in 1980. Over the years, Genting Plantations has embarked on several significant acquisitions in Malaysia, thus increasing its land bank from a mere 13,700 hectares in 1980 to nearly 66,000 hectares currently. It has expanded operations into Indonesia since 2005 and is currently developing more than 68,000 hectares in Kalimantan through joint ventures. With this expansion, the Company now has a total landbank of more than 133,000 hectares. It also owns 6 oil mills with a total milling capacity of 265 tonnes per hour. Reputed to be one of the lowest cost palm oil producers, Genting Plantations is one of the early members of the Roundtable on Sustainable Palm Oil (RSPO).

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