Hexima (HXL)

Shares / Stock Code

HXL

Stock Exchange / Sharemarket

ax

Hexima (HXL) is a company that focues on agricultural biotechnology. The company engages in the research and development of technology for the genetic modification of crops, primarily to enhance their resistance to insects and fungal pathogens. It was listed on the Australian stock market on 27 August, 2007. Investors can trade Hexima shares on the Australian Stock Exchange (ASX).

Hexima was formed in 1998, following the discovery by its founding scientists, Professor Adrienne Clarke, Professor Marilyn Anderson, Dr Robyn Heath and Dr Angela Atkinson at The University of Melbourne, of certain molecules involved in the protection of the female stigma of plants, from insect predation and fungal infection. The intellectual property associated with the genetic information relating to insect resistance was protected through the patent system. In 2001, Hexima acquired the intellectual property portfolio of The University of Melbourne relating to this technology.

Hexima continued to develop the technology funded via a combination of equity funding from a small group of private investors and grant monies from both the Commonwealth and Queensland Governments. In 2007, the company raised $40M through an Initial Public Offering and listed on the ASX.

Hexima continues to conduct the majority of its research under contracts with The University of Melbourne and La Trobe University. Through these research contracts, scientists have access to specialist analytical equipment as well as general laboratory, tissue culture and glasshouse facilities. Hexima continues to invest directly in research equipment and facilities, such as an expanded tissue culture facility at The University of Melbourne and a quarantine glasshouse at La Trobe University. A new glasshouse and tissue culture facility is scheduled to be built at La Trobe University during 2009. This facility will increase Hexima’s glasshouse capacity by more than four times and tissue culture capacity by more than seven times. Intellectual property generated by the scientific team arising from research conducted under these contracts becomes the property of Hexima.

The Discovery group based at La Trobe University is led by Professor Marilyn Anderson. The group is focused on understanding the molecular framework of Hexima’s technologies. Their expertise in protein structure and function allows a targeted approach to solving identified problems in agricultural production. This is in contrast to the broad-based gene screening processes used by many companies.

The Product Development group based at The University of Melbourne is led by Dr Robyn Heath. This group works closely with the Discovery group to optimise Hexima’s technologies and ultimately express selected genes in crop plants. This group is experienced in conducting field trials of transformed cotton plants. The performance of Hexima’s technologies is first assessed under laboratory and glasshouse conditions. Selected genes are then transformed into cotton plants for assessment of their performance under field conditions. The crop plants containing selected genes are then taken to field trials.

The Hexima team has been routinely transforming cotton for many years and this year added canola to its transformation capability. In 2008, Hexima entered into an arrangement with DuPont to develop and commercialise fungal disease resistance technology in corn and soybeans. As part of the contract, Hexima will establish corn transformation capability.

Hexima’s three most advanced technologies are:

Insect resistance technology which provides crops with greater levels of insect resistance by inhibiting the capacity of insects to digest proteins, thus adversely affecting their growth and development. Consequently, there is less damage to plants by the insects.

Fungal resistance technology which provides crops with a level of resistance to several fungal pathogens.

Gene delivery technology which is a molecular tool which enables delivery of several proteins into a plant from a single transcript. It is known as the Multi-Gene Expression Vehicle (MGEV).