News Releases | March 21, 2018 | Read Time: 6 minutes
Monsanto and AgriMetis Announce Global Licensing Agreement to Drive Novel Insect Control Solutions
ST. LOUIS & LUTHERVILLE, Md.--(BUSINESS WIRE)-- Monsanto Company (NYSE: MON) and AgriMetis, LLC have announced an exclusive collaboration for Monsanto’s continued research with AgriMetis’ SpinoMetis™ platform, which includes novel insect protection compounds derived from a naturally-occurring bacterium. The SpinoMetis platform builds on the established safety and efficacy profiles of other products of the same origin to provide a semi-synthetic, broad-spectrum approach to controlling key insect pests in agriculture. In early research, the platform has been shown to be comparable or superior to commercial comparators in trials evaluating performance against lepidopteran, hemipteran, and other pests.
“Our initial lab testing with the SpinoMetis platform showed promising results in insects of economic significance for farmers, so our team is eager to expand our evaluations to the field,” said Dr. Jeremy Williams, Monsanto agricultural productivity innovations lead. “Monsanto is committed to developing sustainable modern agriculture solutions to help growers address the challenges they face each growing season, and this platform has the potential to provide enhanced insect protection while maintaining a safe environment for mammals and pollinators.”
The agreement includes an exclusive global license from AgriMetis to Monsanto for agricultural research in row, vegetable, and other crops for a three-year period, as well as an option for Monsanto to acquire exclusive commercial rights at the end of the term. AgriMetis is a company focused on discovering novel agrochemicals based on fermentative and/or synthetic improvements for crop protection.
“We are very excited to work with Monsanto on this solution-driven technology. The SpinoMetis platform is the first of several new crop protection molecules that AgriMetis plans to bring to the global crop protection industry,” commented Steven Tuttle, AgriMetis President and CEO. “The SpinoMetis platform validates AgriMetis’ methodology to discover, develop and deliver innovative chemical solutions for global agricultural industry partners.”
AgriMetis is dedicated to fulfilling the increasing demand for sustainable crop protection products. We innovate these crop protection products through leading edge and advanced discovery, development, and delivery methods. Our AgriMetis technology platform is at the interface of biology, biochemistry, and chemistry. AgriMetis’ scientific approach is multidisciplinary and integrated, which allows AgriMetis to exploit areas of chemical space and production routes that are inaccessible to others. AgriMetis was formed in March 2014. With headquarters in Lutherville, Maryland, AgriMetis continues to grow and develop its technologies and capabilities. For more information, please visit agrimetis.com.
Cautionary Statements Regarding Forward-Looking Information Concerning AgriMetis
This press release contains “forward-looking statements” concerning the development of AgriMetis’ products, the potential benefits and attributes of such products, and the company’s expectations regarding its prospects. Forward-looking statements are subject to risks, assumptions and uncertainties that could cause actual future events or results to differ materially from such statements. These statements are made as of the date of this press release. Actual results may vary. AgriMetis undertakes no obligation to update any forward-looking statements for any reason.
About Monsanto Company
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.
Cautionary Statements Regarding Forward-Looking Information Concerning Monsanto
Certain statements contained in this release concerning Monsanto are “forward-looking statements,” such as statements concerning the company’s anticipated financial results, current and future product performance, regulatory approvals, business and financial plans and other non-historical facts, as well as the pending transaction with Bayer Aktiengesellschaft (“Bayer”). These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the company’s actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: risks related to the pending transaction between the company and Bayer, including the risk that the regulatory approvals required for the transaction may not be obtained on the anticipated terms or time frame or at all, the risk that the other conditions to the completion of the transaction may not be satisfied, the risk that disruptions or uncertainties related to the pending transaction could adversely affect the company’s business, financial performance and/or relationships with third parties, and the risk that certain contractual restrictions during the pendency of the transaction could adversely affect the company’s ability to pursue business opportunities or strategic transactions; continued competition in seeds, traits and agricultural chemicals; the company's exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public understanding and acceptance of our biotechnology and other agricultural products; the success of the company's research and development activities; the outcomes of major lawsuits, including potential litigation related to the pending transaction with Bayer; developments related to foreign currencies and economies; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company's estimates related to distribution inventory levels; the levels of indebtedness, continued availability of capital and financing and rating agency actions; the company's ability to fund its short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions, natural disasters, accidents, and security breaches, including cybersecurity incidents, on the agriculture business or the company's facilities; and other risks and factors detailed in the company's most recent periodic report to the SEC. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.
SpinoMetis™ is a trademark of AgriMetis, LLC.