Britain’s Plant Health Care Plc has reached an agreement with Monsanto Co. on commercialization of a seed treatment for row crops and vegetables.
Under the agreement, the natural plant products company said it would license to Monsanto the rights to commercialize its harpin-based seed treatment technology in corn, soybeans, cotton, canola and selected vegetables.
The harpin technology involves a protein that activates a plant’s intrinsic ability to protect itself against pests and diseases and enhances its growth, Plant Health Care said.
In return, Plant Health Care will get a milestone payment plus ongoing royalties based on the volume of harpin seed treatment.
Monsanto seeds treated with harpin might be available to farmers by 2010, Plant Health Care said.
Financial terms were not disclosed, but the company said it believed the agreement would make a material contribution to its future revenue and profits.
