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Syngenta Signs Pioneer Deal Worth $400M+

Mere days after filing for federal approval to market a new rootworm-resistant corn, Syngenta Biotechnology Inc. has announced a corn rootworm deal with Dupont’s Pioneer Hi-Bred division that could produce $400 million for the Research Triangle Park company.

Last week Syngenta asked the United States Department of Agriculture for the go-ahead on a new trait Syngenta scientists have developed, dubbed Event 5307. The trait provides a new way to disrupt the digestive tracts of destructive corn rootworms as they eat.

It’s a new mode of action that binds differently in the gut of target insects than the protein in Syngenta’s existing Agrisure RW corn rootworm trait. Pioneer just bought non-exclusive access to Agrisure.

Syngenta is a subsidiary of Syngenta AG, a Swiss company formed in 2000 by an agribusiness marriage between pharmaceutical giants Novartis and AstraZeneca.

Syngenta employs more than 25,000 people worldwide, including more than 500 in North Carolina.

Syngenta's North American headquarters for its insecticide and herbicide business, Syngenta Crop Protection, is in Greensboro.