Today, Monsanto Company (NYSE: MON) and Devgen N.V. announced a research and development collaboration to develop varieties of crop plants with improved resistance against insect pests. “This product-focused collaboration provides our researchers with novel approaches and complementary technologies to develop new ways to control insect pests in corn, cotton and soybean,” said Robert T. Fraley, Ph.D., Monsanto executive vice president and chief technology officer.

Pierre Hochuli, Devgen’s chairman of the Board of Directors, observed: “This collaboration with one of the world’s leading innovative agricultural technology companies underlines the relevance and significant potential of Devgen’s advanced technology for agricultural applications.”

The agreement creates new business opportunities for both companies. Monsanto obtains exclusive commercial rights under Devgen’s technology to control specific categories of insect pests in three core crops. Devgen receives upfront technology access fees and research funding, and is eligible for research and commercial milestone payments and royalties on commercial products. Devgen retains all rights to develop and commercialise insect resistance in all other crops and other fields in pest and disease control. Additional details of the agreement were not disclosed.

Devgen is a leader in the development of in-vivo pest and disease control and drug discovery based on the industrialized use of model organisms. This technology base is successfully utilized in agrochemical and plant based pest control applications. Devgen enables the rapid prioritization and validation of pesticide targets, the identification of a pesticide’s mode-of-action and the development of chemical and plant based control of plant pests and diseases. Devgen was founded in 1997 and employs 90 people with its headquarters in Ghent, Belgium. To date, the company has generated over € 70 million in equity and revenue-based transactions.

With headquarters in St. Louis, Missouri, Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality.