WILMINGTON, Del., and ST. LOUIS, May 16, 2018 /PRNewswire/ — Corteva Agriscience™ Agriculture Division of DowDuPont (NYSE: DWDP) and Monsanto Company (NYSE: MON) announced today the completion of a licensing agreement for next-generation technology for insect control in corn for the U.S. and Canada that will expand options for farmers fighting corn rootworm, dubbed the “billion dollar bug” for the damage it causes. Corteva Agriscience™ will receive a license to stack Monsanto’s Corn Rootworm III and MON89034 traits with Corteva Agrisciences’s insect control traits. This agreement enables the development of the next generation of insect control technology for above and below ground insect pests, and will be offered with the Enlist® herbicide tolerant trait for corn. Financial details of the agreement are not being disclosed.
“This collaboration demonstrates the commitment Corteva Agriscience™ has to bringing greater choice to growers, helping them increase their productivity and profitability,” said Tony Klemm, Global Corn Portfolio Leader, Corteva Agriscience™, Agriculture Division of DowDuPont. “The combination of Corn Rootworm III with Corteva Agriscience™ molecular stack for insect control and the Enlist® corn trait will give our customers the ability to protect yield while extending the durability of industry-leading insect trait technology.”
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“Monsanto’s broad licensing approach continues to put valuable, cost-effective tools into the hands of farmers when they need them most,” said Calvin Treat, Monsanto’s Global Soy and Corn Technology Lead. “We view this agreement as an endorsement for the novel mode of action that Monsanto’s Corn Rootworm III trait brings to farmers, as it builds on the current products planted today by adding a new RNAi mode of action that enhances effectiveness against one of the industry’s most destructive insect pests. Corn Rootworm III offers increased control and additional durability against the corn rootworm by providing three distinct methods of protection. Through the use of RNAi we’re able to target and control rootworms with a novel mode of action that’s different than the Bt class of proteins that is used in other insect-control products.”
This new next generation product combines Corteva Agriscience™ molecular stack for insect control and Enlist® with Monsanto’s Corn Rootworm III and MON89034 (Bt) to create a broad-spectrum insect control product with multiple modes of action for above- and below-ground pests. Pending applicable regulatory reviews, it will be offered with the Enlist® tolerant trait for corn, which provides tolerance to new 2,4-D choline, and FOP herbicides in addition to the base glyphosate tolerance. This brings additional benefits to farmers, offering more weed control options and greater flexibility.
About Corteva Agriscience™, Agriculture Division of DowDuPont
Corteva Agriscience™, Agriculture Division of DowDuPont (NYSE: DWDP), is intended to become an independent, publicly traded company when the previously announced spinoff is complete by June 2019. The division combines the strengths of DuPont Pioneer, DuPont Crop Protection and Dow AgroSciences. Corteva Agriscience™ provides growers around the world with the most complete portfolio in the industry — including some of the most recognized brands in agriculture: Pioneer®, Encirca®, the newly launched Brevant™ Seeds, as well as award-winning Crop Protection products — while bringing new products to market through our solid pipeline of active chemistry and technologies. More information can be found at www.corteva.com.
DowDuPont (NYSE: DWDP) is a holding company comprised of The Dow Chemical Company and DuPont with the intent to form strong, independent, publicly traded companies in agriculture, materials science and specialty products sectors that will lead their respective industries through productive, science-based innovation to meet the needs of customers and help solve global challenges. For more information, please visit us at www.dow-dupont.com.
Monsanto is committed to bringing a broad range of solutions to help nourish our growing world. We produce seeds for fruits, vegetables and key crops – such as corn, soybeans, and cotton – that help farmers have better harvests while using water and other important resources more efficiently. We work to find sustainable solutions for soil health, help farmers use data to improve farming practices and conserve natural resources, and provide crop protection products to minimize damage from pests and disease. Through programs and partnerships, we collaborate with farmers, researchers, nonprofit organizations, universities and others to help tackle some of the world’s biggest challenges. To learn more about Monsanto, our commitments and our more than 20,000 dedicated employees, please visit monsanto.com. Follow our business on Twitter® at twitter.com/MonsantoCo.
All products, unless otherwise noted, denoted with ™, ℠ or ® are trademarks or registered trademarks of their respective companies.
Cautionary Statement About Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target,” similar expressions, and variations or negatives of these words.
On December 11, 2015, The Dow Chemical Company (“Dow”) and E. I. du Pont de Nemours and Company (“DuPont”) announced entry into an Agreement and Plan of Merger, as amended on March 31, 2017, (the “Merger Agreement”) under which the companies would combine in an all-stock merger of equals transaction (the “Merger Transaction”). Effective August 31, 2017, the Merger Transaction was completed and each of Dow and DuPont became subsidiaries of DowDuPont Inc. (“DowDuPont”). For more information, please see each of DowDuPont’s, Dow’s and DuPont’s latest annual, quarterly and current reports on Forms 10-K, 10-Q and 8-K, as the case may be, and the joint proxy statement/prospectus included in the registration statement on Form S-4 filed by DowDuPont with the SEC on March 1, 2016 (File No. 333-209869), as last amended on June 7, 2016, and declared effective by the SEC on June 9, 2016 (the “Registration Statement”) in connection with the Merger Transaction.
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