Monsanto partners with French biotech

Monsanto Co. has signed a non-exclusive research and commercial license agreement with Cellectis S.A., a French biotechnology company, for broad use of its plant technology.

Under the deal, Cellectis will receive an upfront payment of nearly $4.3 million and, subject to the approval of Cellectis shareholders, Monsanto will make an equity investment of $1.4 million to allow Cellectis to scale the technology for agriculture.

The meganucleases technology allows for genome modifications and the development of new traits, Monsanto said.

Under the agreement, Monsanto will have access to Cellectis’ intellectual property on meganucleases and its custom meganuclease production platform.

Cellectis will also be eligible to receive fees for the development of each meganuclease, success-based milestones and may receive royalties on certain traits commercialized by Monsanto.

Creve Coeur, Mo.-based Monsanto Co. (NYSE: MON), led by Chairman, President and CEO Hugh Grant, develops insect- and herbicide-resistant crops and other agricultural products. It is one of the largest employers in St. Louis with 4,000 local employees. Its seeds and traits portfolio includes corn, cotton and soybeans.