INDIANAPOLIS, USA; Saint Etienne en Cogles, FRANCE, October 19, 2022 – Corteva Agriscience and STI Biotechnologie, an expert in microbiological technologies, announced today a multi-year agreement for the distribution of two Lactobacillus strains for plant stimulations. The agreement includes all countries on the European continent.
Through the agreement, STI Biotechnologie is providing an exclusive distribution license to Corteva for a dedicated formulation of their proprietary Lactobacillus Farciminis CNCM-I-3699 and Rhamnosus CNCM-I-3698, which work with the plant to improve soil conditions and rhizosphere. The technologies work in field and greenhouse conditions, helping improve soil life and nutrient interactions.
Corteva will leverage its wide distribution network and market reach to make the product, sold under the brand name Utrisha™ Rhizo biostimulant, available for all crops, with a primary focus on vegetables and potatoes.
“Corteva Agriscience continues to bring new and innovative solutions to market by offering natural-origin products that contribute to plant resilience that also complement our conventional crop protection solutions,” Priscila Vansetti, Vice President, Biologicals and Business Development, Crop Protection Business Unit, Corteva Agriscience. “We’re excited to work with STI Biotechnologie to scale up and maximize sustainable options that help farmers meet changing environmental conditions while keeping their crops productive and healthy.”
This collaboration represents another step forward for Corteva’s expanding global Biologicals portfolio, which is dedicated to developing biostimulants and biocontrol products with proven, predictable performance. Utrisha™ Rhizo, a technology powered by STI Biotechnologie, will provide value through integrated nutrition management efficiency and enhancing yield potential and sustainability, in line with Corteva’s commitment to sustainable innovation.
“This partnership perfectly fits with our aim to provide natural biological solutions to increase crops development and resilience” says Christophe Tanguy, Director of Operations at STI Biotechnologie. “This agreement with a multinational company such as Corteva will accelerate the deployment of our soil health Biostimulant and fulfill farmers growing demand for natural solutions increasing crop resilience and soil health,” says Renaud Domitile, CEO.
Terms of the agreement were not disclosed.
Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world’s most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the Company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.Follow Corteva Agriscience on Facebook, Instagram, LinkedIn, Twitter and YouTube.
About STI Biotechnologie
STI Biotechnologie is a French company, founded in 2007, producing solutions based on Lactic Bacteria historically developped in the animal feed business and agri-environmental uses. Since 2020, STI Biotechnologie is part of the IDENA group, specialized in natural feed solutions.
STI Biotechnologie owns two Lactobacillus Strains (Farciminis CNCM-I-3699 and Rhamnosus CNCM-I-3698) and has been expamding agronomic applications and registrations obtained in France, Belgium and Portugal. “This microbial solution improves crop performances”.
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This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “targets,” “estimates,” "outlook," or other words of similar meaning. All statements that address expectations or projections about the future, including statements about completion of this transaction and Corteva's financial results or outlook; strategy for growth; product development; regulatory approvals; market position; capital allocation strategy; liquidity; environmental, social and governance ("ESG") targets and initiatives; and the anticipated benefits of acquisitions restructuring actions, or cost savings initiatives are forward-looking statements.
Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized. Forward-looking statements and other estimates also involve risks and uncertainties, many of which are beyond Corteva's control. While the list of factors presented below is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Corteva's business, results of operations and financial condition. Some of the important factors that could cause Corteva's actual results to differ materially from those projected in any such forward-looking statements include: (i) failure to successfully develop and commercialize Corteva's pipeline; (ii) failure to obtain or maintain the necessary regulatory approvals for some of Corteva's products; (iii) effect of the degree of public understanding and acceptance or perceived public acceptance of Corteva's biotechnology and other agricultural products; (iv) effect of changes in agricultural and related policies of governments and international organizations; (v) effect of competition and consolidation in Corteva's industry; (vi) effect of competition from manufacturers of generic products; (vii) costs of complying with evolving regulatory requirements and the effect of actual or alleged violations of environmental laws or permit requirements; (viii) effect of climate change and unpredictable seasonal and weather factors; (ix) failure to comply with competition and antitrust laws; (x) competitor's establishment of an intermediary platform for distribution of Corteva's products; (xi) impact of Corteva's dependence on third parties with respect to certain of its raw materials or licenses and commercialization; (xii) effect of industrial espionage and other disruptions to Corteva's supply chain, information technology or network systems; (xiii) effect of volatility in Corteva's input costs; (xiv) failure to raise capital through the capital markets or short-term borrowings on terms acceptable to Corteva; (xv) failure of Corteva's customers to pay their debts to Corteva, including customer financing programs; (xvi) increases in pension and other post-employment benefit plan funding obligations; (xvii) risks related to environmental litigation and the indemnification obligations of legacy EID liabilities in connection with the separation of Corteva; (xviii) risks related to Corteva's global operations; (xix) failure to effectively manage acquisitions, divestitures, alliances, restructurings, cost savings initiatives, and other portfolio actions; (xx) capital markets sentiment towards ESG matters (xxi) risks related to COVID-19; (xxii) Corteva's ability to recruit and retain key personnel; (xxiii) Corteva's intellectual property rights or defend against intellectual property claims asserted by others; (xxiv) effect of counterfeit products; (xxv) Corteva's dependence on intellectual property cross-license agreements; (xxvi) other risks related to the Separation from DowDuPont; and (xxvii) risks related to the Russia and Ukraine military conflict.
Additionally, there may be other risks and uncertainties that Corteva is unable to currently identify or that Corteva does not currently expect to have a material impact on its business. Where, in any forward-looking statement, an expectation or belief as to future results or events is expressed, such expectation or belief is based on the current plans and expectations of Corteva’s management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. Corteva disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in the "Risk Factors" section of Corteva’s Annual Report on Form 10-K, as modified by subsequent Quarterly Reports on Forms 10-Q and Current Reports on Form 8-K.
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