BASEL, Switzerland, Oct. 15, 2015 /PRNewswire/ -- Syngenta announced today an expansion of its licensing collaboration with KWS and Limagrain and their joint ventures AgReliant and Genective. The new agreement is for 20 years and covers the AgReliant business in North America and the individual operations of the two companies outside North America. Under the terms of the agreement, Syngenta will provide worldwide rights to its current and future GM corn traits portfolio. Syngenta will receive a $200 million upfront payment and future royalty and milestone payments, dependent upon regulatory approvals.
Davor Pisk, Chief Operating Officer, Syngenta said: "This agreement is a further affirmation of the value of Syngenta's innovative GM traits portfolio and biotechnology capabilities. The creation of additional value through trait outlicensing, as well as the incorporation of leading technologies in our own branded offer, will be an important driver in improving the profitability of our Seeds portfolio."
Hagen Duenbostel, CEO of KWS SAAT SE, said: "As an independent seed company it has always been our primary desire to deliver best products to the farmer. With this renewed agreement we will be able to meet the requirements of our customers, based on the global strength of our corn germplasm and a wide range of competitive GM corn traits delivering sustainable solutions. Furthermore the agreement allows Genective to follow its open architecture strategy of combining own corn GM traits with leading trait platforms in the industry."
Bruno Carette, CEO Limagrain Field Seeds, said: "Limagrain, through its holding Vilmorin & Cie, considers this global trait licensing agreement with Syngenta a strong addition to its Field Seeds product portfolio for established and future GM corn markets. The ability to combine highly competitive proprietary germplasm with both Genective and Syngenta leading GM traits will increase the options offered to our corn customers around the world. Providing such alternative options is at the heart of our vision to help corn farmers meet future production challenges."
Syngenta is a leading agriculture company helping to improve global food security by enabling millions of farmers to make better use of available resources. Through world class science and innovative crop solutions, our 28,000 people in over 90 countries are working to transform how crops are grown. We are committed to rescuing land from degradation, enhancing biodiversity and revitalizing rural communities. To learn more visit www.syngenta.com and www.goodgrowthplan.com. Follow us on Twitter® at www.twitter.com/Syngenta
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