E. I. du Pont de Nemours and Company
) announced that its Nutrition & Health business has entered
into a collaboration agreement with AvidBiotics to enhance food
safety. The partnership, which includes a DuPont Ventures equity
investment, will involve a research program on proteins that takes
out unwanted bacteria in food. DuPont believes that these novel
applications will improve food safety, quality and shelf life.
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AvidBiotics will retain all the rights to applications of its
technology in the fields of animal health, and human therapeutics,
prophylactics and diagnostics. AvidBiotics' antibacterial
technology, based on R-type bacteriocins (proteins with
bactericidal activity),recognize target bacteria by binding to
specific receptors on the bacterial surface and disrupting the cell
envelope to kill the organism promptly. In theory, R-type
bacteriocins can be developed against any pathogenic bacteria or
spoilage organism of interest.
DuPont Nutrition & Health addresses the world's food challenges
by offering a wide range of sustainable, bio-based ingredients and
advanced microbial diagnostic solutions to provide safer, healthier
and more nutritious food.
DuPont released its second quarter 2012 results in July 2012. The
company reported adjusted earnings of $1.48 per share for the
quarter, exceeding the Zacks Consensus Estimate of $1.46 and the
year-ago earnings of $1.37 per share.
The earnings growth was primarily driven by strong performance of
the company's agriculture, food and bioscience businesses as well
as its advanced materials business, despite weak European markets.
Including one-time items, earnings came in at $1.25 per share
versus $1.29 in the prior-year quarter. The fall in earnings
reflects lower sales volumes across the company's business segments
and weak demand for titanium dioxide, especially in Europe and
Net sales grew 7% year over year to $11,006 million, driven by
higher price and portfolio changes, partially offset by unfavorable
currency impact and lower sales volumes. However, sales missed the
Zacks Consensus Estimate of $11,252 million.
DuPont, which competes with
The Dow Chemical Company
), currently retains a short-term Zacks #3 Rank (Hold) and we have
a long-term (more than 6 months) Neutral recommendation on its