Press Releases

A non-exclusive collaboration agreement was announced today by Monsanto Company, Asgrow Seed Company and Stine Seed Company. The research agreement is designed to further improve and develop soybean genetics and technology owned by the companies.

Stine is the leading supplier of soybean genetics in early maturing varieties, which are planted in the north central United States. Stine’s genetics are featured in its branded Stine seed and also in material licensed to other seed companies for sale under their own brand names. Asgrow, which became part of Monsanto early in 1997, is a leader in worldwide soybean research. Monsanto is the producer of specific traits developed through biotechnology and delivered to growers via seed.

"This collaboration reconfirms our commitment to broadly license our technologies and make sure that farmers have access to the very best technology, in the best germplasm and in the brands of their choice," said Arnold W. Donald, co-president of Monsanto’s agricultural sector.

"Our goal is to provide growers with the performance and traits they want and need in the seeds they prefer to plant," Robert T. Fraley, co-president of Monsanto’s agricultural sector, said. "This collaboration is another step in fulfilling that goal. We’re committed to providing the latest technological advances to the greatest number of seed companies with unparalleled speed."

"Both Asgrow and Stine are leaders in bringing new genetics and technologies to their customers," said Harry Stine, president of Stine Seed Company. "Each company will continue to market its brands of soybeans, but now both seed companies will be able to expand access of co-developed products to other seed companies. This will provide broader access of technologies and genetics to U.S. farmers."

"This collaboration provides an opportunity to build on the strong research foundation we have created at Asgrow," said Asgrow Co-President Danny Kennedy. "Combining leading genetics with leading technology from Monsanto and other companies will bring tremendous value to growers."

The collaboration will go into effect immediately, and products of the collaboration could be available to growers as early as 1999. Peterson Genetics Inc. will be the primary outlicensing agent for these products, working closely with Corn States Hybrid Service Inc. to give customers the greatest access to the new varieties.

As a life sciences company, Monsanto is committed to finding solutions to the growing global needs for food and health by sharing common forms of science and technology among agriculture, nutrition and health. The company’s 20,000 employees worldwide make and market high-value agricultural products, pharmaceuticals and food ingredients. Asgrow is an international soybean and corn seed company, and is a subsidiary of Monsanto.

For additional information, please contact:

Karen Marshall
314-694-2882
kkmars@monsanto.com

Scarlett Lee Foster
314-694-2883
slfost@monsanto.com

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