Genetic Technologies grants third license to Monsanto
Genetic Technologies Limited announced that it has granted a third license to Monsanto Company. Genetic Technologies had previously granted a non-exclusive license to the GTG non-coding patents to Monsanto in 2007 for all applications in plants and plant products. Soon after, GTG also granted Monsanto a further non-exclusive license for applications in swine. The current license now grants Monsanto similar rights for cattle. The commercial terms of this further license are covered by formal confidentiality provisions within the relevant Settlement and License Agreement and therefore cannot be disclosed.
This new license follows recent discussions with Monsanto, further to the patent infringement law suit filed by Genetic Technologies in the Western District of Wisconsin earlier this year.
Genetic Technologies is also now engaged in discussions with other parties pertaining to this law suit and further details will be released to the Market as additional license agreements are duly executed. Genetic Technologies is also engaged in a number of licensing negotiations separate to this law suit and details of relevant outcomes from these additional activities will similarly be released to the Market, as appropriate.
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