The Government's biggest crown research institute, AgResearch, is starting its own business unit to market science discoveries.
The business, known as Celentis, was registered in Auckland last December, and will be used to commercialise AgResearch's science and technology.
AgResearch chief executive Keith Steele said the new business was aimed at ensuring science discoveries were transformed into commercial reality.
To accelerate product development, Celentis would re-invest profits into opportunities arising from AgResearch's science, something that had been lacking in the past.
AgResearch has equity of $85 million, and revenue of $110 million, but has just reported a surplus after tax for the year to June 30 of only $6.3 million.
Celentis was not listed as a subsidiary or associate company in the June annual report.
At the same time, AgResearch announced an alliance with animal health company CSL, which develops, makes and markets pharmaceutical products of biological origin, and is Australia's largest investor in biopharmaceutical research and development.
The "proposed alliance" would give AgResearch leverage in Northern Hemisphere markets with opportunities for developing new animal health products.
AgResearch's Agvax vaccination products are expected to be sold through CSL, and Agvax will have sole distribution rights to CSL products in New Zealand.
AgResearch has claimed several significant scientific discoveries since it was set up in 1992.
They include the Inverdale sheep gene discovery, which could lead to new human fertility treatments, and the world's first DNA-based meat tracing system.
It is also heavily investing in genetic engineering research at its Ruakura science centre, and is expecting a substantial increase in the number of products and technologies becoming available from research throughout AgResearch.
- NZPA
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