BASEL, Switzerland, and WILMINGTON, Del., Dec. 14, 2010 /PRNewswire-FirstCall/ -- 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."
Syngenta is one of the world's leading companies with more than 25,000 employees in over 90 countries dedicated to our purpose: Bringing plant potential to life. Through world-class science, global reach and commitment to our customers we help to increase crop productivity, protect the environment and improve health and quality of life. For more information about us please go to www.syngenta.com.
DuPont (www.dupont.com) is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 90 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation. Pioneer Hi-Bred (www.pioneer.com), a DuPont business headquartered in Des Moines, Iowa, is the world's leading developer and supplier of advanced plant genetics, providing high-quality seeds to farmers in more than 90 countries. Pioneer provides agronomic support and services to help increase farmer productivity and profitability and strives to develop sustainable agricultural systems for people everywhere. Science with Service Delivering Success™.
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Forward-Looking Statements – DuPont
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