Forage Genetics International (FGI) and Monsanto announced that FGI has acquired commercial rights from the parties’ alfalfa research collaboration and that Monsanto has licensed select alfalfa traits and technology intellectual property to FGI.
“Monsanto is committed to being the collaborator of choice within agriculture and we see tremendous opportunity in expanding our network of partnerships,” Mike Frank, vice president and chief commercial officer of Monsanto Co., said. “Through this agreement with FGI, we’re able to expand our commercial and technology reach, while bringing greater focus on unlocking resources to drive growth in our integrated solutions portfolio.”
FGI paid Monsanto $210 million for the rights in a one-time upfront licensing fee. The agreement should help the companies’ brands continue to discover and commercially deliver innovative alfalfa seed products.
Specifically, the deal will support continued expansion of
the commercial reach of Roundup Ready Alfalfa and HarvXtra Alfalfa with
Roundup Ready Technology. Additionally, the agreement will focus on upping
innovation for alfalfa during the coming seasons.
“Forage Genetics has always been interested in fully serving our customers and the grower with a complete alfalfa offering,” Shawn Barnett, president, Forage Genetics International said. “This deal allows us to bring a complete offering to the table while opening all other doors to future advancements.”
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