Bayer CropScience and Monsanto 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 U.S. 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 Rüdiger Scheitza, head of strategy and business management, Bayer CropScience. "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."
"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," says Brett Begemann, Monsanto president and CCO.
Additional terms and financial details of the agreements were not disclosed.
Read the full press release here.
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