Devgen and Monsanto Company announce research and technology agreements
Devgen N.V. and Monsanto Company announced that they have entered into a five-year research and development (R&D) agreement and a five-year technology exchange agreement. These agreements shall enable the parties to identify potential product candidates derived from technologies being developed by both companies.
Monsanto and Devgen worked together under an earlier R&D collaboration signed in 2004. The new R&D agreement commits additional funding from Monsanto for Devgen's research and is coupled with an agreement which will broaden the relationship so that both companies can explore technology applications in their crop areas of interest. Devgen will leverage Monsanto's work in rice and small cereal grains, especially in Asia. Monsanto intends to initially leverage Devgen's technologies to its core crops of interest such as corn, cotton and soybeans.
The technology exchange will allow both companies to share the advancements the other has made, and will be making, during the five-year period. Additional details of the agreements were not disclosed.
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