Seed Treatment Partnership Announced
Shares of UK-based natural plant products company Plant Health Care Plc rose 16 percent after its announcement of an agreement with U.S. 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 growers by 2010.