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SYNGENTA GRANTS PIONEER HI-BRED LICENSE TO ITS AGRISURE TRAIT
Dec. 14, 2010
Source: Syngenta news release
Syngenta and DuPont today announced that Syngenta will grant DuPont business, Pioneer Hi-Bred, a non-exclusive, global license to its corn rootworm trait MIR604 (Agrisure) for corn seed.
The trait provides protection from below-ground coleopteran insects, including corn rootworm, a major corn pest in the United States and around the world.
The license, which takes effect on 1 January 2011, gives Pioneer full stacking rights of MIR604 with other traits. The value of the deal could exceed $400 million in cumulative payments. Detailed financial terms were not disclosed.
Davor Pisk, Chief Operating Officer, Syngenta Seeds said: "This agreement is a further affirmation of Syngenta's biotechnology capability. The creation of value through trait outlicensing, as well as through the incorporation of leading proprietary technology in our own branded offer, will contribute to the growing profitability of our Seeds business."
"This rootworm trait provides Pioneer with additional product options for our customers continuing our momentum in the marketplace," said Paul E. Schickler, Pioneer President.
"Pioneer is creating unique trait combinations to offer next generation insect protection products. The new products will deliver growers additional choice in the Optimum AcreMax family of products."
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