Syngenta announces 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.
“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,” says Davor Pisk, chief operating officer, Syngenta.
More information is available at: http://www.syngenta.com/global/corporate/en/news-center/news-releases/Pages/151015-1.aspx
