Bayer and U.S. company Paradigm Genetics extend partnership on crop protection research

21-Jun-2001

Bayer AG and the U.S. company Paradigm genetics, Inc., based in Raleigh, North Carolina, have announced the extension and expansion of their existing research agreement. The companies will collaborate on the discovery of new, innovative herbicides for an additional five years, and are also aiming to increase their success rate in herbicide development. Under the terms of the contract, Paradigm Genetics will receive up to USD 30 million, including milestone payments, over the next five years. Paradigm will also receive success fees for all products developed as a result of the collaboration that reach the market.

Bayer's partnership with Paradigm Genetics began in 1998 with the objective of exploiting new technologies to discover a portfolio of novel herbicide products that will be developed to market readiness by Bayer. Paradigm Genetics brings to the collaboration its expertise in decoding genetic information and identifying gene function in weeds. It develops assays to test the efficacy of active compounds on the targets that have been identified. Bayer uses this technology in its own high-throughput screening systems.

"Our decision to extend and expand our partnership with Paradigm was based on the high level of success we have had to date," said Dr. Detlef Wollweber, Head of Research in Bayer's Crop Protection Business Group. "Paradigm continues to provide us with many new herbicide targets and screening assays, and together we are building a strong position to secure the use of these technologies in herbicide research."

"This extension of the agreement underscores the continued success of the collaboration between our two companies and the positive impact that functional genomics is having on product discovery," said Dr. John A. Ryals, President and CEO of Paradigm Genetics. "Bayer's decision to extend our collaboration beyond the original scope is a strong endorsement of our high-throughput technologies, and the value of our data and the assays that we develop."

Bayer AG's Crop Protection Business Group is one of the world's leading suppliers of crop protection products, with sales of almost EUR 2.5 billion. The U.S. company Paradigm Genetics Inc., based in Raleigh, North Carolina, specializes in the identification of genes for the development of new herbicides, fungicides and pesticides and for improving the quality of seeds.

https://www.chemeurope.com/en/news/3567/bayer-and-u-s-company-paradigm-genetics-extend-partnership-on-crop-protection-research.html