FMC Corporation and Micropep Technologies announce strategic collaboration to co-develop bioherbicide solutions

Rhea-AI Summary

FMC Corporation (NYSE: FMC) has announced a strategic collaboration with Micropep Technologies to develop new micropeptide-based bioherbicides targeting herbicide-resistant weeds. This multi-year agreement aims to combine R&D capabilities to create sustainable weed control solutions for corn and soybeans. The global herbicide market exceeded $26 billion in 2021, with significant opportunities for environmentally-friendly bioherbicides. The collaboration seeks to expedite the availability of effective solutions amid growing agricultural challenges.

Positive

• Strategic collaboration with Micropep Technologies enhances FMC's R&D capabilities.
• Focus on developing bioherbicides addresses urgent market demand for sustainable agriculture.
• Targets growing global herbicide market, which was valued over $26 billion in 2021.

Negative

• None.

Collaboration accelerates development of new micropeptide-based bioherbicides targeting resistant weeds.

PHILADELPHIA, Dec. 6, 2022 /PRNewswire/ --

FMC Corporation (NYSE: FMC), a leading global agricultural sciences company, and Micropep Technologies (Micropep), a global leader in micropeptide technology, today announced a strategic collaboration to develop biological solutions to control destructive herbicide-resistant weeds that reduce crop yields.  

The collaboration will accelerate the ongoing development of natural weed control products based on short protein molecules naturally produced by plant cells. Under an exclusive multi-year agreement, the partnership will focus on developing new solutions for controlling key herbicide-resistant weeds in corn and soybeans. The companies will combine their respective R&D capabilities leveraging Micropep's technology to expedite and improve the success rate in identifying innovative biological herbicides. 

"We are pleased to collaborate with Micropep in developing novel micropeptide technology to address resistance management," said Dr. Kathleen Shelton, FMC executive vice president and chief technology officer. "These novel mode-of-action biomolecules in agriculture represent an exciting new frontier; this is a completely new solution compared to what is available to growers today. This agreement demonstrates our continuing commitment to diversify FMC's world-class R&D pipeline to include a broader portfolio of biologicals that work in combination with synthetics."

The global herbicide market was over $26 billion in 2021, composed primarily of synthetic herbicides. There are significant market opportunities for bioherbicides that provide effective weed control while also minimizing the impact on the environment. This collaboration advances the development of Micropep's micropeptide pipeline, which has demonstrated efficacy on resistant weeds and pathogens threatening major crops throughout the world. To address agriculture's most pressing challenges, FMC is investing in the discovery and development of new modes of action and continues to build an extensive ecosystem of partners to accelerate the speed of crop protection innovation.

"Micropep is building the next generation of natural solutions addressing global challenges in multiple markets, and agriculture is a key focal area. Climate change is already impacting the way farmers produce food, and they urgently need new sustainable solutions to protect their crops," said Thomas Laurent, Micropep founder and chief executive officer. "This partnership with FMC will expedite the availability of more sustainable solutions. By combining our proprietary AI-powered micropeptide discovery platform and FMC's strong scientific and commercial capabilities, we seek to develop a selective natural herbicide effective in controlling major resistant weeds."

Specific terms of the agreement were not disclosed.

About FMC

FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically while protecting the environment. With approximately 6,400 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn® and Twitter®.

About Micropep Technologies

Micropep Technologies, with operations in the US and France, is a global leader in breakthrough micropeptide technology. The company has developed a proprietary AI-powered discovery platform for micropeptides, which are short protein molecules naturally produced by plant cells and have an infinite number of applications. Micropep is building the next generation of natural solutions addressing global challenges in multiple markets, with a key focus in agriculture.

Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995:  This release contains forward-looking statements, which are based on management's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These factors include, among other things, the risk factors and other cautionary statements included within FMC's 2021 Form 10-K filed with the SEC as well as other SEC filings and public communications. FMC cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. FMC undertakes no obligation, and specifically disclaims any duty, to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law.

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SOURCE FMC Corporation

FAQ

What is the FMC and Micropep collaboration about?

FMC and Micropep are collaborating to develop micropeptide-based bioherbicides for herbicide-resistant weeds.

When was the FMC and Micropep collaboration announced?

The collaboration was announced on December 6, 2022.

What market opportunities does the FMC and Micropep collaboration target?

The collaboration targets the global herbicide market, valued over $26 billion in 2021, focusing on sustainable solutions.

How does the collaboration plan to address agriculture's challenges?

The partnership aims to expedite the development of natural weed control products to tackle urgent agricultural challenges.

What crops are being targeted for bioherbicide development?

The collaboration focuses on developing solutions for controlling weeds in corn and soybeans.