Monsanto Co. purchased genetic assets developed under a six-year agreement with biotech company Icoria Inc. for nearly $6.8 million in cash.

Monsanto Co. purchased genetic assets developed under a six-year agreement with biotech company Icoria Inc. for nearly $6.8 million in cash. Monsanto has thus far paid nearly $4.8 million cash for assets developed under an agreement with Icoria to research agricultural transgenic traits, such as increased growth rates and stress resistance. Monsanto said many of the genes developed under the agreement have already moved into its research and development pipeline. The company will pay Icoria the remaining $2 million by January 2006.