FMC Corporation Collaborates with Novozymes to Co-Develop Enzyme Solutions
FMC Corporation (NYSE: FMC) has announced a strategic partnership with Novozymes to co-develop enzyme-based crop protection solutions. This multi-year collaboration focuses on enzyme biocontrol technology for the fungicide and insecticide markets, targeting key soybean diseases like Asian Soybean Rust. FMC will act as the commercial partner while Novozymes will handle manufacturing. The venture aims to create innovative biological solutions that address pest management challenges sustainably and efficiently. FMC has over 30 biological products on the market and plans to launch four new biopesticides within four years.
- Strategic collaboration with Novozymes to develop enzyme-based crop protection solutions.
- Focus on important crop diseases, enhancing FMC's product offerings.
- Existing market presence with over 30 biological products highlights FMC's commitment to innovation.
- Plans to launch four new biopesticides in the next four years, indicating growth potential.
- None.
PHILADELPHIA, Feb. 1, 2021 /PRNewswire/ --
FMC Corporation (NYSE: FMC), a leading global agricultural sciences company, has entered into a strategic collaboration with Novozymes, the world leader in biological solutions, to research, co-develop and commercialize biological enzyme-based crop protection solutions for growers around the world.
Collaboration between the two companies will concentrate on enzyme-based biocontrol technology for the global fungicide and insecticide markets under a multi-year global agreement. The partnership will focus on developing solutions for controlling key soybean fungal diseases such as Asian Soybean Rust (ASR), in addition to combination products with FMC's leading diamide insecticide technology for controlling key insect pests. The companies will combine their respective R&D capabilities with FMC serving as commercial partner and Novozymes as the manufacturing partner. The partnership will leverage Novozymes' technology to date, and FMC will help expedite and improve the success rate in identifying innovative biological crop protection products by assessing multiple classes of enzymes at the company's high throughput screening laboratory.
"We look forward to partnering with Novozymes in bringing enzymatic technology to the crop protection market," said Mark Douglas, FMC president and chief executive officer. "FMC is committed to delivering differentiated biological products that provide growers with science-backed solutions to help sustainably manage crops, protect yields, and combat resistance. The use of enzymes in agriculture is an exciting new frontier for biologicals."
"We see FMC as a great partner with strong scientific and commercial capabilities – and, importantly, a clear commitment to biological solutions," says Ester Baiget Arnau, Novozymes' president and chief executive officer. "Our partnership with FMC is part of our increased efforts to meet the need for sustainable pest control solutions for growers around the world. Together, we will develop innovative biological solutions for key market segments where FMC is an ideal commercial partner."
According to Novozymes and FMC, enzyme biocontrol technology is a new, differentiated tool to address significant challenges around pest management. As a stand-alone product or an integrated solution, enzymes can deliver high performance with the environmental benefits of a biological. The companies believe enzyme biocontrol technology can potentially support stand-alone products as well as play a critical role in providing comprehensive integrated pest management solutions for farmers.
"Enzymes are a relatively untapped solution in the agricultural market," said Dr. Bénédicte Flambard, global director of FMC Plant Health. "This unique technology will provide a high level of performance and stability that will complement synthetic chemistry. A lower cost of entry will enable use in the row crop markets where growers desire high-performing, sustainable solutions with new modes of action to combat hard-to-control diseases and pests. We are biased for new mode of action molecules, which can better control pests that are building resistance to existing products."
Since 2013, FMC has built a world-class biologicals business with more than 30 biological products in the market across more than 45 countries, 12 biofungicides, bioinsecticides and bionematicides in its R&D pipeline, and a dedicated biologicals research center in Denmark. The company's Accudo® biostimulant was recognized at the 2020 Crop Science Forum and Awards in the Best New Biological Product (Biostimulant) category. In 2019, Presence® and Quartzo® bionematicides received top honors in the Best New Biological Product (Biopesticide) category. FMC plans to launch four new biopesticides from its pipeline over the next four years and is actively assessing additional partnerships to develop and commercialize a diversity of new biological technologies.
About FMC
FMC Corporation, an agricultural sciences company, provides innovative solutions to growers around the world with a robust product portfolio fueled by a market-driven discovery and development pipeline in crop protection, plant health, and professional pest and turf management. This powerful combination of advanced technologies includes leading insect control products based on Rynaxypyr® and Cyazypyr® active ingredients; Authority®, Boral®, Centium®, Command® and Gamit® branded herbicides; Talstar® and Hero® branded insecticides; and flutriafol-based fungicides. The FMC portfolio also includes biologicals such as Quartzo® and Presence® bionematicides. FMC Corporation employs approximately 6,400 employees around the globe. To learn more, please visit fmc.com.
FMC, the FMC logo, Rynaxypyr, Cyazypyr, Authority, Boral, Centium, Command, Gamit, Talstar, Hero, Arc, Accudo, Quartzo and Presence are trademarks of FMC Corporation or an affiliate. Always read and follow all label directions, restrictions and precautions for use. Products listed here may not be registered for sale or use in all states, countries or jurisdictions. Hero® insecticide is a restricted use pesticide in the United States.
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 2019 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
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