Mycogen Corp. announced that it has received approval fromthe Environmental Protection Agency (EPA) to market itsgenetically engineered M-Peril bioinsecticide, which targets theEuropean corn borer.
M-Peril is the San Diego company's third EPA-approvedproduct that incorporates its CellCap encapsulation deliverysystem for genetically engineering the organism Pseudomonasfluorescens to contain Bacillus thuringiensis toxin. In 1991,Mycogen's MVP and M-Trak bioinsecticides became the firsttwo genetically engineered biopesticides to receive federalregulatory approval for commercial sale.
Mycogen (NASDAQ:MYCO) has about 16.8 million outstandingshares, fully diluted, and had $68 million in cash at year end,according to Mike Sund, the director of corporatecommunications. The company's stock closed unchanged Fridayat $14.50 a share.
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