BASEL, Switzerland and BEIJING, PRC, June 25 /PRNewswire-FirstCall/ -- Syngenta announced today that it has agreed a five-year research collaboration with the Institute of Genetics and Developmental Biology (IGDB) in Beijing, China. The agreement focuses on the identification and development of novel agronomic traits including drought tolerance for key crops, including corn, soybean, wheat, sugar beet and sugar cane. IGDB forms part of the Chinese Academy of Sciences in Beijing and is one of China's leading biotechnology research institutes.
Syngenta will have rights to commercialize previously and newly developed traits in the agreed range of field crops. Under the agreement, traits will not only be developed for the Chinese seeds market, but also for global agriculture markets. Financial details of the agreement have not been disclosed.
"We are extremely pleased to have IGDB as one of our research partners", said Dr. David Lawrence, Head of Research and Development at Syngenta. "The Institute has profound discovery research in genetics, developmental biology and agricultural sciences. Its science base fits very well with Syngenta's commitment to meet the high demand from farmers both inside and outside of China for new seed products. Combining our technology platforms will increase the speed of introduction of new and improved seed varieties."
"The collaboration with Syngenta gives our Institute access to global agriculture markets through integration of new traits in the Syngenta seeds portfolio. This is an important step in our ambition to extend our research programs beyond China", said Dr. Yongbiao Xue, Director at IGDB.
Syngenta and IGDB will commence their collaboration project with immediate effect.
Syngenta is a world-leading agribusiness committed to sustainable agriculture through innovative research and technology. The company is a leader in crop protection, and ranks third in the high-value commercial seeds market. Sales in 2006 were approximately $8.1 billion. Syngenta employs around 19,500 people in over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York . Further information is available at www.syngenta.com.
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