Devgen and Monsanto announce collaboration to discover new insect control methods
Today, Monsanto Company (NYSE: MON) and Devgen N.V. announced a research and development collaboration to develop varieties of crop plants with improved resistance against insect pests.
“This product-focused collaboration provides our researchers with novel approaches and complementary technologies to develop new ways to control insect pests in corn, cotton and soybean,” said Robert T. Fraley, Ph.D., Monsanto executive vice president and chief technology officer.
Pierre Hochuli, Devgen’s chairman of the Board of Directors, observed: “This collaboration with one of the world’s leading innovative agricultural technology companies underlines the relevance and significant potential of Devgen’s advanced technology for agricultural applications.”
The agreement creates new business opportunities for both companies. Monsanto obtains exclusive commercial rights under Devgen’s technology to control specific categories of insect pests in three core crops. Devgen receives upfront technology access fees and research funding, and is eligible for research and commercial milestone payments and royalties on commercial products. Devgen retains all rights to develop and commercialise insect resistance in all other crops and other fields in pest and disease control. Additional details of the agreement were not disclosed.
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