Additional long-term licensing agreements have been concluded with Syngenta in order to strengthen KWS’s and Vilmorin & Cie (listed company of Limagrain) corn technology platforms. These agreements authorise Vilmorin & Cie and KWS and their common joint-ventures Genective (research and development joint-venture for GM corn traits) and AgReliant (North America Field Seeds) on a separate and independent basis, to make commercial use of current and future genetically improved corn traits developed and marketed by Syngenta. The upfront payments made by the respective companies are totalling 200 million US dollars. Further payments depending on regulatory approvals may mature in the long run.
“Genective is a global developer of innovative GM technologies in corn. With these agreements Genective will be able in the future to offer seed companies a range of novel and critically needed products.” commented Bruce Lee CEO Genective.
Genective is a technology joint-venture of two leading global seed companies, the French Group Limagrain, through its listed company Vilmorin & Cie, and the KWS Group. Genective has its principal office in Paris, France and was established by Limagrain and KWS to collaborate in the field of research, development and marketing of transgenic traits, initially for maize and, potentially at a further stage for other crops.