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Monsanto Biofuels Feedstock Research Extended

05 November 2013

US - US-based technology provider Monsanto and plant genomics company Evogene are to extend and expand a research and development collaboration involving biofuels feedstocks up to August 2016.

The collaboration, initially signed in 2008, has focused on identifying key plant genes related to yield, environmental stress and fertiliser use in corn, soyabean, canola and also cotton.

The new agreement extends these existing programmes, while adding a new five-year programme for the identification of genes providing resistance to stalk rot disease in corn.

Stalk rot is believed to be caused by multiple Fusarium species, which is a family of fungi that causes yield loss across the world’s major crops.

"Agricultural innovation will be key in helping to meet growing global demand," says David Fischhoff, Monsanto technology strategy development lead. "This collaboration is focused on developing new tools that help farmers drive yields even further."

The prior agreement included a put option giving Evogene the right, under defined conditions, to sell one million Evogene shares to Monsanto at $12 (€8) per share.

The prior put option has been cancelled in exchange for an increase in all future milestone payments and royalty rates with respect to genes licensed by Evogene to Monsanto.

TheCropSite News Desk

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