Bayer CropScience and Monsanto Company Tuesday announced they have entered into a series of licensing agreements for next-generation and enabling technologies in the field of plant biotechnology.
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," said Rüdiger Scheitza, head of Bayer's 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.
Additional terms and financial details of the agreements were not disclosed. Genuity Roundup Ready 2 Yield is Monsanto's second-generation trait technology for soybeans. Roundup Ready 2 Xtend soybeans contain the Genuity Roundup Ready 2 Yield trait technology stacked with a trait that provides tolerance to dicamba.