|
Monsanto Company (NYSE: MON) announced that it has acquired
Divergence, Inc., a privately-held St. Louis-based biotechnology
research and development company. Divergence’s current focus
is its work with parasitic nematodes, including developing
biotechnology traits for nematode control and nematicides with
novel modes of action and superior safety profiles.
“Nematodes are one of the most challenging agricultural pests
farmers face each year, and we’ve seen them become more
pervasive,” said Robb Fraley, Ph.D., Monsanto’s chief
technology officer. “These pests cost farmers millions in
damages annually to crops like corn, soy, cotton and vegetables.
Divergence has promising tools in its pipeline, including a
nematicide which we believe could be used as a valuable seed
treatment formulation to maximize the performance potential of the
seeds and traits farmers plant.”
“This is an exciting
opportunity for Divergence,” said Derek Rapp,
Divergence’s chief executive officer. “We’re
thrilled to see our research and product platforms, including our
nematode resistant plant and nematicide work, move to Monsanto, a
company that has the experience and resources to deliver
outstanding products to farmers. We’re confident that the
hard work of the Divergence team will continue and will lead to new
technologies with potential yield benefits for growers.”
Divergence and Monsanto established a collaborative relationship in
August 2004. Under the relationship, the two companies worked to
develop nematode-resistant soybeans. In 2008, the companies made
public their sequence of the soybean cyst nematode genome, and
extended their relationship.
“Over the years, we've had a
productive and successful relationship with our partners at
Divergence,” Fraley said. “We look forward to
continuing this tradition and welcome Divergence’s highly
experienced and talented employees to the Monsanto team.”
“Divergence has received tremendous support from the business
and academic communities in the St. Louis region and throughout the
state of Missouri,” Rapp added. “Our success reflects
the many resources of this region and its determination to flourish
in the life sciences.”
Terms of the agreement were not
disclosed.
About Monsanto Company
Monsanto Company is a leading
global provider of technology-based solutions and agricultural
products that improve farm productivity and food quality. Monsanto
remains focused on enabling both small-holder and large-scale
farmers to produce more from their land while conserving more of
our world's natural resources such as water and energy. To
learn more about our business and our commitments, please visit:
www.monsanto.com. Follow our business on Twitter® at
www.twitter.com/MonsantoCo, on Facebook® at
www.facebook.com/MonsantoCo, or subscribe to our
News Release RSS Feed.
About Divergence, Inc.
Divergence, Inc., a world leader in
the application of genomics and informatics to agriculture and
infectious disease, discovers and develops products for the safe
and effective control of parasites. The company's focus is on
parasitic nematodes, devastating unseen pests that cause billions
of dollars in crop loss annually and widespread disease in humans
and animals. For more information visit Divergence's website at
www.divergence.com.
Cautionary Statements Regarding Forward-Looking Information
Certain statements contained in this release 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. 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:
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 acceptance of biotechnology products; the success of the
company's research and development activities; the outcomes of
major lawsuits; developments related to foreign currencies and
economies; successful operation of recent acquisitions;
fluctuations in commodity prices; compliance with regulations
affecting our manufacturing; the accuracy of the company's
estimates related to distribution inventory levels; 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 and accidents on the
agriculture business or the company's facilities; and other
risks and factors detailed in the company's most recent Form
10-K 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.
Media contact: Sara Miller, Corporate Communications Manager, 314-694-5824
|
