Axis blames GMs for insolvency

08 September 1999

Axis blames GMs for insolvency

AXIS Genetics, the Cambridge-based biotechnology company, is blaming the poor reputation of genetically-modified (GM) technology for the groups insolvency.

Axis was unable to raise £10m needed from its investors to keep the company going because of what it claimed was investors poor view of the sector.

The company has patents controlling two key technologies for producing vaccines in fruits and plants.

Its oral vaccines against hepatitis B, made in genetically-modified potatoes, began clinical trials in the US just six weeks ago.

The company, which grew crops in sealed greenhouses, was also working on GM plants including bananas to produce vaccines against diarrhoea and even cancer.

• The Independent 08/09/99 page 9
• The Guardian 08/09/99 page 11