Dupont and Monsanto sign licensing agreement for rootworm-protected corn technology
"This licensing agreement allows us to provide our customers with additional new corn technology in Pioneer brand hybrids," said Rick McConnell, Pioneer president.
"This furthers our commitment to broadly license our biotechnology traits so that growers have access to the traits they want in the seed brands of their choice for use on their farms," said Hugh Grant, chief operating officer of Monsanto.
The agreement creates new and growing sources of business for both companies, with Pioneer receiving a royalty-bearing license to Monsanto's YieldGard Rootworm corn technology. Monsanto will receive royalties and certain other payments from DuPont. Additional details of the agreement were not disclosed.
YieldGard Rootworm corn technology recently received registration from the U.S. Environmental Protection Agency, allowing for the commercialization this planting season of the first biotech corn to control the corn rootworm pest.
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