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Makhteshim-Agan and Cibus Global Announce Strategic Agreement to Co-develop Proprietary Crop Protection Traits.

Publication: Biotech Week
Publication Date: 07-OCT-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Makhteshim-Agan (MAI) and Cibus Global (CIBUS) announced that they signed Strategic Development Alliance and Strategic Equity Alliance agreements. Under these agreements, MAI will invest up to $37 million over five years, based on certain milestones, in a Joint Venture with CIBUS to develop proprietary crop traits in five major crops with a European focus. Separately, in another agreement, MAI has entered into a Strategic Equity Alliance with CIBUS that allows MAI to gradually acquire up to 50.1% of CIBUS equity (see also Cibus Global).

Under the terms of the Strategic Development Alliance, CIBUS committed to...

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