In their ongoing strategy to partner with companies to jumpstart their research and development pipeline, Monsanto (NYSE:MON) announced they've entered into a three-year agreement with AgraQuest Inc., which makes a variety of pesticides.
The purpose will be to develop new strains of seed coated with pesticides.
Some benefits from the partnership could include the creation of seeds which could protect against insects, disease and nematodes.
What Monsanto specifically gets out of the deal is exclusive rights to the seed-treatment technology of AgraQuest for major crops and vegetables.
AgraQuest retains the rights to the pesticide technology it owns used to spray over crops.
They will receive an payment upfront from Monsanto, along with funding for research, and royalties and payments based on performance.
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