OTTAWA (dpa-AFX) - U.K.'s Genus plc (GNS), a animal genetics company, on Thursday said PIC, its global porcine genetics business has entered into definitive agreements with Olymel LP, a Canadian agri-food company, for provision of genetic products and services for C$25 million.
PIC has acquired all intellectual property in Olymel's elite porcine genetics. They have also entered into an exclusive long-term genetics collaboration agreement, whereby PIC would supply elite germplasm and manage the ongoing genetic improvement of Olymel's AlphaGene genetics.
PIC would use its proprietary genetics, technologies and services to accelerate genetic gain consistent with Olymel's strategic genetic goals. Olymel would continue to distribute the AlphaGene genetics through its internal multiplication program and to its independent producer herds in Canada.
The collaboration combines PIC's expertise in porcine genetic improvement with Olymel's leading porcine production facilities, enabling Olymel's customers to benefit from improved AlphaGene health, efficiency and breakthrough technologies.
The deal with Olymel, the largest porcine producer in Canada with capacity for over 185,000 pigs per week is expected to expand PIC's footprint in the Canadian porcine genetics market and would allow both parties to better serve pork producers across Canada.
Shares of Genus plc are currently trading at 2939.27 pounds, down 222.73 pounds or 7.04 percent from previous close.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News