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BUSINESS: Grain Biotech Australia to shut down



------------------------------- GENET-news -------------------------------
TITLE:  Grain Biotech Australia to shut down
SOURCE: Australian Broadcasting Corporation, Australia
AUTHOR: Natacha Hammond
URL:    http://www.abc.net.au/rural/wa/content/2006/s1873848.htm
DATE:   16.03.2007
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Grain Biotech Australia to shut down

The Perth biotechnology firm, Grain Biotech Australia, says the
moratorium by the government on GM crops is largely to blame for its
decision to shut down. GBA has been working to develop a genetically
modified salt-tolerant variety of wheat, and received one-off funding of
more than one and a half million dollars from the Grains Research and
Development Corporation. But GBA business development manager, Alan
Tough, says that hasn't been enough and it now looks like their research
will be in vain. Mr Tough says the benefits of the work they've already
done would be to add $23 a tonne to WA grain prices. He says investors
are reticent to inject more funds into the company while there is an
uncertain future around GM crops.


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