September 10, 2004
Monsanto Company and
Divergence, Inc.
announced today a collaborative relationship to develop
nematode-resistant soybeans.
The targeted pest, soybean cyst nematode, attacks roots of
soybean during the growing season, and the annual U.S. yield
loss can amount to a billion-dollar problem for soybean growers.
As part of the collaboration, Monsanto will gain exclusive
rights to Divergence's existing technology in this area and will
provide funding for ongoing research performed by Divergence.
Divergence will also receive milestone payments based on
research and development success, and royalties once products
reach the marketplace.
"Monsanto is committed to remaining a leader in providing
important traits to growers that will allow them to realize
maximum productivity and to investing in improvements that allow
U.S. soybean growers to be competitive in the world
marketplace," said Robert T. Fraley, Executive Vice President
and Chief Technology Officer of Monsanto. "Divergence is unique
in its focus on controlling parasitic nematodes, and its use of
innovative science in the discovery and development of leads
gives Monsanto a running start in the search for tools to combat
this problem."
"Divergence is thrilled to have aligned our scientific efforts
with such a strong partner in agricultural biotechnology and
seeds," said Derek K. Rapp, Chief Executive Officer of
Divergence. "With its tremendous capabilities and experience in
product development, Monsanto is an ideal company to take
Divergence's technologies forward to the marketplace."
Terms of the agreement were not disclosed.
Divergence is dedicated to the discovery of effective and
ecologically sound strategies for the control of parasites and
other pests. The company's initial focus is on parasitic
nematodes, one of the world's major pest groups. Nematodes are
roundworms that cause billions of dollars in damage annually to
numerous crops, including soybeans, cotton, strawberries, and
bananas. Nematodes also cause widespread disease in animals,
including infections such as heartworm in dogs and cats and
intestinal worms in livestock. Nematode-induced human diseases
include elephantiasis and African river blindness.
Monsanto Company (NYSE: MON) is a leading global provider of
technology-based solutions and agricultural products that
improve farm productivity and food quality. |