Dow AgroSciences to receive global license to develop and commercialize COT102 transgenic event

Syngenta ( SYT, SWX: SYNN) and Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company (NYSE: DOW), announced today that Syngenta has granted Dow AgroSciences licenses to a number of VipCot(TM) cotton varieties, as well as access to its COT102 cotton transgenic event.

Under the terms of the agreement, Dow AgroSciences will receive a global license to develop and commercialize stacked combinations of Syngenta's COT102 transgenic event with Dow AgroSciences' traits. The COT102 event contains Vip3A, a novel vegetative insecticidal protein that is structurally different to insect traits currently on the market and has a distinct mode of action, which is an important tool for insect resistance management. The Vip3A technology will also be sold by Syngenta and its licensees in corn as the Agrisure Viptera(TM) trait, pending receipt of all remaining regulatory approvals.

Dow AgroSciences will also receive a license to a number of VipCot cotton varieties, stacked with glyphosate tolerance, for sale in the United States under its PhytoGen® cottonseed brand. Pending regulatory approvals, these varieties are expected to be launched in 2012 and will offer cotton growers protection against key cotton pests such as cotton bollworm (Helioverpa zea), tobacco budworm (Heliothis virescens) and armyworms (Spodoptera). This agreement further demonstrates Dow AgroSciences' commitment to innovation and industry-leading technology that will enhance the profitability of cotton growers' operations worldwide.

Davor Pisk, Chief Operating Officer of Syngenta Seeds, said, "We are very pleased to have reached this agreement, which further demonstrates the innovation that Syngenta is delivering in biotechnology. The agreement will significantly expand the product and technology options available to cotton growers."

Antonio Galindez, President and CEO of Dow AgroSciences, said, "Insect-tolerant technologies will move to the next level in cotton with the addition of this trait into the Dow AgroSciences strong portfolio of Bt proteins. Through the combination of this and WideStrike® Insect Protection, cotton growers worldwide will benefit from greater flexibility, more choice in high-yielding, high-quality PhytoGen cotton, and increased productivity."

Financial terms of the agreement have not been disclosed.