Source: Plant Health Care Inc.



Plant Health Care Inc., a wholly-owned subsidiary of Plant Health Care Plc, and Monsanto Company have entered into an agreement to evaluate, develop and commercialize applications of Plant Health Care's Harpin-based technology.



Plant Health Care's Harpin seed technology is aimed at suppressing nematodes in crop settings. Under the agreement, Plant Health Care will grant Monsanto
certain exclusive rights to applications of its Harpin technology. In return Plant Health Care will receive an undisclosed upfront payment, plus a milestone payment dependent upon the progress of the development of the technology over the next twelve months.



Once evaluations are complete, the companies estimate that the products could be available to farmers by the end of the decade. At the time of commercialization, Plant Health Care will also receive a royalty payment based on the acreage for which the Harpin technology is supplied. Additional terms of the agreement were
not disclosed at this time.



John Brady, CEO of Plant Health Care, noted: "This agreement represents a significant step forward in the development of our company and provides an ideal first platform for the Harpin technology. This agreement with Monsanto validates the confidence that our Board has in the Harpin technology which we only acquired earlier this year."