Precision BioSciences, Inc., announced the formation of Precision PlantSciences, Inc., a wholly owned subsidiary of Precision BioSciences. Precision PlantSciences will focus its efforts exclusively on the development and use of Precision’s DNE technology for agricultural applications and will assume full control of Precision BioSciences’ existing agricultural partnerships. Precision BioSciences primary focus will now be on its developmental efforts in fields impacting human health and biological research.
“We are thrilled to announce the formation of our new subsidiary, Precision PlantSciences,” stated Todd Melby, Precision BioSciences’ CFO/COO. “The demand from the agricultural space for our industry-leading DNE genome engineering technology created an opportunity for Precision to expand and deepen its efforts in the agricultural market via the creation of Precision PlantSciences.”
“The breadth and power of Precision’s DNE technology has enabled Precision to successfully develop products and partnerships across a wide array of industries and applications,” stated Matthew Kane, CEO of Precision BioSciences. “Moving forward, this new business structure will enable our companies to focus on their respective markets and will provide both with new strategic and financial options as they grow and develop into the future."