Novozymes and Monsanto form microbial alliance
By Teis Jensen
COPENHAGEN Dec 10 (Reuters) - Denmark's Novozymes and U.S.-based Monsanto have entered into a long-term alliance to boost research and commercialisation of microbial solutions for agriculture, the Danish company said in a statement on Tuesday.
Monsanto will pay Novozymes an aggregate upfront sum of $300 million net.
"Today, we forge a game-changing alliance with the potential to transform global agriculture," Novozymes Chief Executive Peder Holk Nielsen said in the statement.
The cooperation, called The BioAg Alliance, will bring together Novozymes' capabilities in microbial discovery with Monsanto's larger commercial capabilities.
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