Corteva Agriscience™, Agriculture Division of DowDuPont, and Monsanto Reach Licensing Agreement on Next-Generation Corn Ins...

Date : 05/16/2018 @ 2:30PM
Source : PR Newswire (US)
Stock : Dowdupont Inc. (DWDP)
Quote : 65.82  -0.32 (-0.48%) @ 8:00PM
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Corteva Agriscience™, Agriculture Division of DowDuPont, and Monsanto Reach Licensing Agreement on Next-Generation Corn Ins...

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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."

"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.

Follow Corteva Agriscience™, Agriculture Division of DowDuPont, on Facebook, Instagram, LinkedIn, Twitter and YouTube.

About DowDuPont
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.

Follow Corteva Agriscience™, Agriculture Division of DowDuPont, on Facebook, Instagram, LinkedIn, Twitter and YouTube.

About Monsanto
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. 

Forward-looking statements by their nature address matters that are, to different degrees, uncertain, including the intended separation of DowDuPont's agriculture, materials science and specialty products businesses in one or more tax efficient transactions on anticipated terms (the "Intended Business Separations"). Forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond the company's control. Some of the important factors that could cause DowDuPont's, Dow's or DuPont's actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) successful integration of the respective agriculture, materials science and specialty products businesses of Dow and DuPont, including anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, productivity actions, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of the combined operations; (ii) impact of the divestitures required as a condition to consummation of the Merger Transaction as well as other conditional commitments; (iii) achievement of the anticipated synergies by DowDuPont's agriculture, materials science and specialty products businesses; (iv) risks associated with the Intended Business Separations, including those that may result from the comprehensive portfolio review undertaken by the DowDuPont board, changes and timing, including a number of conditions which could delay, prevent or otherwise adversely affect the proposed transactions, including possible issues or delays in obtaining required regulatory approvals or clearances related to the Intended Business Separations, disruptions in the financial markets or other potential barriers; (v) the risk that disruptions from the Intended Business Separations will harm DowDuPont's business (either directly or as conducted by and through Dow or DuPont), including current plans and operations; (vi) the ability to retain and hire key personnel; (vii) potential adverse reactions or changes to business relationships resulting from the completion of the merger or the Intended Business Separations; (viii) uncertainty as to the long-term value of DowDuPont common stock; (ix) continued availability of capital and financing and rating agency actions; (x) legislative, regulatory and economic developments; (xi) potential business uncertainty, including changes to existing business relationships, during the pendency of the Intended Business Separations that could affect the company's financial performance and (xii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as management's response to any of the aforementioned factors. These risks, as well as other risks associated with the merger and the Intended Business Separations, are more fully discussed in (1) the Registration Statement and (2) the current, quarterly and annual reports filed with the SEC by DowDuPont and to the extent incorporated by reference into the Registration Statement, by Dow and DuPont. While the list of factors presented here is, and the list of factors presented in the Registration Statement are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on DowDuPont's, Dow's or DuPont's consolidated financial condition, results of operations, credit rating or liquidity. None of DowDuPont, Dow or DuPont assumes any obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

Cision View original content:http://www.prnewswire.com/news-releases/corteva-agriscience-agriculture-division-of-dowdupont-and-monsanto-reach-licensing-agreement-on-next-generation-corn-insect-control-technology-300649719.html

SOURCE DowDuPont

Copyright 2018 PR Newswire

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