Monsanto and Plant Health Care announce an agreement on seed treatment

Date:12-19-2008

Shares of UK-based natural plant products company Plant Health Care Plc rose 16% on its announcement of an agreement with US biotech giant Monsanto Co. to commercialize a seed treatment for row crops and vegetables. While financial terms of the agreement were not disclosed, Plant Health Care will get a “milestone payment” in addition to ongoing royalties based on volume.

Under the agreement, Plant Health Care will license to Monsanto the rights to commercialize its harpin-based seed treatment technology – in which a protein activates a plant to protect itself against pests and diseases and enhances its growth – in corn, soybeans, cotton, canola, and selected vegetables. The seeds could be available to farmers by 2010.