BASEL, Switzerland and WILMINGTON, Del., Feb. 19 /PRNewswire-FirstCall/ --
Syngenta and DuPont (NYSE: DD) today announced a global agreement that will
provide DuPont business, Pioneer Hi-Bred, access to Syngenta's novel insect
control corn event, MIR162. Under the royalty-bearing agreement, Syngenta
will grant Pioneer a non-exclusive, global license with stacking rights to
MIR162. Other terms of the agreement were not disclosed.
"We are pleased with this important commitment which further demonstrates
the quality of Syngenta's biotech trait pipeline," said Davor Pisk, Chief
Operating Officer Syngenta Seeds. "This agreement will accelerate the rapid
adoption of Syngenta proprietary technology to better protect growers' corn
"With access to this trait, we have a great new tool to build on our
insect control product offerings," said Paul E. Schickler, DuPont Vice
President and General Manager and President of Pioneer. "The addition of
MIR162 to our already strong insect control trait portfolio will provide
growers with a superior product choice in controlling the broadest range of
MIR162 is currently in the regulatory review process in the United States
and the major corn export markets. It is expected to receive U.S. regulatory
approval by the end of the year.
MIR162 will protect corn above the ground by delivering high-level control
of a broad spectrum of lepidopteran insects including fall army worm, corn ear
worm, western bean and black cut worm and sugar cane borer, which are key
pests in the United States, Brazil and Argentina. The gene contained in MIR162
has a distinct mode of action that is structurally and functionally different
from the genes contained in insect control technologies currently in the
Syngenta is a world-leading agribusiness committed to sustainable
agriculture through innovative research and technology. The company is a
leader in crop protection, and ranks third in the high-value commercial seeds
market. Sales in 2007 were approximately $9.2 billion. Syngenta employs over
21,000 people in more than 90 countries. Syngenta is listed on the Swiss
stock exchange (SYNN) and in New York (NYSE: SYT). Further information is
available at www.syngenta.com.
Pioneer Hi-Bred, a DuPont business, is the world's leading source of
customized solutions for farmers, livestock producers and grain and oilseed
processors. With headquarters in Des Moines, Iowa, Pioneer provides access to
advanced plant genetics in nearly 70 countries.
DuPont is a science-based products and services company. Founded in 1802,
DuPont puts science to work by creating sustainable solutions essential to a
better, safer, healthier life for people everywhere. Operating in more than 70
countries, DuPont offers a wide range of innovative products and services for
markets including agriculture and food; building and construction;
communications; and transportation.
For additional information about our company or our products, check our
Forward-Looking Statements: This news release contains forward-looking
statements based on management's current expectations, estimates and
projections. All statements that address expectations or projections about
the future, including statements about the company's strategy for growth,
product development, market position, expected expenditures and financial
results are forward-looking statements. Some of the forward-looking
statements may be identified by words like "expects," "anticipates," "plans,"
"intends," "projects," "indicates," and similar expressions. These statements
are not guarantees of future performance and involve a number of risks,
uncertainties and assumptions. Many factors, including those discussed more
fully elsewhere in this release and in DuPont's filings with the Securities
and Exchange Commission, particularly its latest annual report on Form 10-K,
as well as others, could cause results to differ materially from those stated.
These factors include, but are not limited to changes in the laws,
regulations, policies and economic conditions of countries in which the
company does business; competitive pressures; successful integration of
structural changes, including acquisitions, divestitures and alliances;
research and development of new products, including regulatory approval and
market acceptance, and seasonality of sales of agricultural products.