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Novozymes and Monsanto establish The BioAg Alliance-FULL STORY

Tuesday, 10 Dec 2013 08:00am EST 

Novozymes A/S:Teams up with Monsanto Company to provide sustainable bioagricultural solutions.Says the companies establish The BioAg Alliance to discover, develop and sell microbial solutions that enable farmers worldwide to increase crop yields with less input.Says the parties will maintain independent and complementary internal and external discovery research programs to identify microbial targets with the potential to help farmers.Says Novozymes will be responsible for production and supply of the microbial solutions to Monsanto, building on its knowledge within fermentation.Says Monsanto will serve as the lead for field testing, registration and commercialization of all alliance products.Says the companies will co-manage the alliance and co-fund research and development efforts.Says Monsanto will pay Novozymes an aggregate upfront payment of $300 million net in recognition of Novozymes' ongoing business and microbial capabilities, and for Novozymes to supply alliance products.Says marketing responsibility for Novozymes' current product portfolio in agricultural biologicals will be transferred to Monsanto along with much of the Novozymes commercial organization currently responsible for that work.Says the agreement is subject to the approval of the relevant national antitrust authorities to the extent required.Says the alliance is expected to close in early 2014. 

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12 Oct 2015