Bayer CropScience and Monsanto Company (NYSE: MON) have entered into a series of licensing agreements for next-generation and enabling technologies in the field of plant biotechnology that will provide new options and choices for farmers.
Monsanto will provide Bayer CropScience with a royalty-bearing license to Genuity® Roundup Ready 2 Yield® and Genuity® Roundup Ready 2 Xtend™ technology in soybeans in the United States and Canada. Bayer CropScience also will receive a royalty-bearing license to Intacta RR2 PRO™ in soybeans in Brazil with an option to a royalty-bearing license in other Latin-American countries in the future. Bayer CropScience has also been granted stacking-rights under certain conditions.
Under the agreements, Bayer CropScience will grant Monsanto licenses to evaluate enabling technologies for corn rootworm control and herbicide tolerance as options for Monsanto’s future pipeline development work.
“We are excited that with the combined technologies from both companies, we will be able to offer farmers additional pest control options and an all-inclusive weed resistance package in soybeans. These will fit nicely with our own technology such as LibertyLink™,” said Rudiger Scheitza, member of the board of management of Bayer CropScience and head of strategy and business management. “We’re also pleased to give Monsanto access to evaluate enabling next-generation weed control and insect technologies for potential support of future pipeline developments.”
“We’re pleased we have been able to reach an agreement with Bayer CropScience, which will offer increased benefits for farmers and foster continued choice and innovation in our industry,” said Brett Begemann, Monsanto president and chief commercial officer. “This agreement further supports the value of our Genuity® Roundup Ready 2 Yield® platform as we prepare to enter the next phase of innovation in soybeans with the addition of Intacta RR2 PRO™ and Genuity® Roundup Ready 2 Xtend™.”
Additional terms and financial details of the agreements were not disclosed.
Genuity® Roundup Ready 2 Yield® is Monsanto’s second-generation trait technology platform for soybeans. Genuity®Roundup Ready 2 Xtend™ soybeans contains the Genuity® Roundup Ready 2 Yield® trait technology stacked with a trait that provides tolerance to dicamba. Intacta RR2 PRO™ soybeans are the first‐ever insect-protected trait in soybeans, providing control of lepidopteran pests.
About Bayer CropScience
Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech materials. This year the company looks back on 150 years of working to fulfill its mission “Bayer: Science For A Better Life.” Bayer CropScience, the subgroup of Bayer AG responsible for the agricultural business, has annual sales of EUR 8,383 million (2012) and is one of the world’s leading innovative crop science companies in the areas of seeds, crop protection and non-agricultural pest control. The company offers an outstanding range of products including high value seeds, innovative crop protection solutions based on chemical and biological modes of action as well as an extensive service backup for modern, sustainable agriculture. In the area of non-agricultural applications, Bayer CropScience has a broad portfolio of products and services to control pests from home and garden to forestry applications. The company has a global workforce of 20,800 and is represented in more than 120 countries.
About Monsanto Company
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world’s natural resources such as water and energy.
Source
Monsanto Co., press release, 2013-04-16
Supplier
Bayer CropScience
Monsanto Company
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