Corteva, Inc. (NYSE: CTVA) and Inari Agriculture have reached a confidential settlement agreement to resolve a lawsuit filed by Corteva in September 2023 that was pending in the United States District Court for the District of Delaware.

Under the terms of the settlement, Inari has agreed to destroy Corteva material it accessed from seed depositories, as well as material developed from those deposits. Inari will also assign to Corteva the intellectual property related to its edited versions of Corteva events. The two companies have additionally agreed to negotiate certain licensing arrangements. Other terms remain confidential.

The case, Corteva Agriscience LLC, Pioneer Hi-Bred International, Inc., and Agrigenetics, Inc. v. Inari Agriculture, Inc. and Inari Agriculture NV, C.A. No. 23-1059 (JFM), centered on access to biological material held in seed depositories.

Both companies stated that court rulings in the case reinforce applicable rights with respect to seed deposits, and that they agree on the importance of abiding by patent and other laws and contracts relating to deposited materials.