BASEL, Switzerland/WILMINGTON, Del., USA, Feb. 19, 2008 -- Syngenta and DuPont 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 crops worldwide."
"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 insect pests."
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 marketplace.
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 (SYT).
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.
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.
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2/19/08
Contacts:
Syngenta
Médard Schoenmaeckers (Switzerland)
+41-61-323-2323
Sarah Hull (United States)
+1-202-628-2372
DuPont
Patrick Arthur
+1-515-334-6515