Monsanto makes payment to Nimbus Discovery
Monsanto has made an undisclosed milestone payment to the US pharmaceutical company, Nimbus Discovery (Cambridge, Massachusetts), under their collaboration to develop agricultural fungicides. The first payment was made following the demonstration of activity of novel, broad-spectrum fungicides in key crops of interest, the companies point out. Monsanto and Nimbus entered into the fungicide development deal last year. A jointly owned entity has been created that has access to Nimbus' validated computational and molecular evolution platform. Monsanto has rights to agricultural applications and Nimbus retains rights to all other applications.