Monsanto and Dow AgroSciences Reach New Licensing Agreement on Roundup Ready 2 Yield® Soybean Technology
ST. LOUIS, June 2, 2010 /PRNewswire-FirstCall/ -- Today, the range of farmers' future seed choices broadened as Monsanto Company (NYSE: MON) granted a new royalty-bearing, Roundup Ready 2 Yield® license to Dow AgroSciences. The new agreement expands Dow AgroSciences' trait stacking and existing licensing rights across its soybean seed brands and licensing partners.
"Through our collaborative relationship with Dow AgroSciences, more farmers will be able to experience the higher yield opportunity of Roundup Ready 2 Yield in new trait combinations and soybean brands they prefer," said Brett Begemann, Monsanto's executive vice president of global seeds and traits. "This agreement is further validation that the Roundup Ready 2 Yield platform is a solid foundation for industry-leading soybean performance."
U.S. farmers are experiencing the benefits of the Genuity® Roundup Ready 2 Yield® soybean trait in more than 70 varieties across multiple brands on 6 million acres this year.
"Our experience in working with the trait gives us the confidence to expand this licensing agreement," said Antonio Galindez, president and chief executive officer of Dow AgroSciences. "The trait offers our farmer customers the high yield opportunity they look for in soybean seeds, and we're excited about the future trait combinations we'll be able to offer our customers in the future to help them produce more, and to do it more efficiently."
Under the agreement:
- Monsanto grants Dow AgroSciences a non-exclusive, royalty-bearing license in the United States to develop, produce, sell and sublicense seed and germplasm with Roundup Ready 2 Yield technology.
- Dow AgroSciences also receives an option to license the Roundup Ready 2 Yield technology in other territories where Monsanto plans to commercialize this technology, after Monsanto has obtained regulatory approval in such countries, including key soybean producing countries like Brazil.
- Dow AgroSciences gains the rights to stack Roundup Ready 2 Yield technology with other biotechnology traits.
- Dow AgroSciences also gains the rights to out license Dow AgroSciences' germplasm containing Roundup Ready 2 Yield technology, alone or in stacks, to third parties that hold Genuity Roundup Ready 2 Yield licenses from Monsanto.
- Additional specific details of the agreement were not disclosed.
"We're pleased that we were able to again work with Dow AgroSciences to put farmers first," said Begemann. "We are confident that this new agreement will be as successful as we have been with our SmartStax™ corn collaboration. It is yet another example of Monsanto and Dow AgroSciences reaching an agreement to provide farmers tremendous choice today and in the seasons ahead."
About Dow AgroSciences
Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a top-tier agricultural company providing innovative agrochemical and biotechnology solutions globally. The company, a wholly owned subsidiary of The Dow Chemical Company, has sales of $4.5 billion. Learn more at www.dowagro.com.