Bayer CropScience AG and Performance Plants Inc. (PPI) (Kingston, Canada) have entered into a research and commercial license agreement
Monheim, December 16, 2011 – Bayer CropScience AG and Performance Plants Inc. (PPI) (Kingston, Canada) have entered into a research and commercial license agreement, giving Bayer exclusive rights for PPI's Heat & Drought Tolerance Technology (HDT™) in cotton. Bayer will leverage this breakthrough technology, which preserves yield by enhancing plants’ tolerance to heat, drought or combined stress. HDT™ plants achieved significantly higher yields when faced with periods of hot and dry growing conditions in the critical stages of development.
This is the second research and commercial agreement both companies have entered into with each other within the last two years. In 2009, Bayer licensed PPI’s leading Yield Protection Technology (YPT®) for their product development and commercialization of drought tolerant cotton. YPT® offers protection against yield losses sustained under suboptimal rainfall or irrigation without yield drag under well-watered growing conditions.
All PPI technologies target different mechanisms such as heat and drought tolerance, water use efficiency, yield enhancement, and biomass accumulation. Due to this diverse range, PPI’s biotech traits can be combined or stacked into a single plant variety for genetic and agronomic improvements of all staple crops.
“We’re pleased to be extending our research collaboration with Performance Plants as a partner in developing the drought tolerance in cotton,” said Frank Schmidt, Head of Research BioScience for Bayer CropScience. “We anticipate that Performance Plants’ innovative technology will contribute to further strengthening our leadership position in the global cotton market, especially with regard to ensuring higher yields in difficult climatic conditions. Their technology fits well with our strategy to explore multiple approaches to drought tolerance in order to bring the most effective, high-performance trait solutions to market to help farmers tackle this global challenge.”
Dr. Yafan Huang, President & Chief Scientific Officer of PPI, added: “At Performance Plants, we strive to be a leading developer and provider of superior ag-biotechnology traits for crop improvement world-wide. HDT™ is our new, ground-breaking genetic technology that assures crop yields under climate variability. I am pleased to see Bayer CropScience continue to adopt our technologies, and believe that they will make significant impacts on enhancing their cotton quality and yield, especially in farm lands that frequently suffer heat and drought stresses.”
About Bayer CropScience
Bayer is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Bayer CropScience, a subgroup of Bayer AG with annual sales of EUR 6.830 billion (2010), is one of the world’s leading innovative crop science companies in the areas of crop protection, non-agricultural pest control, seeds and traits. The company offers an outstanding range of products and extensive service backup for modern, sustainable agriculture and for non-agricultural applications. Bayer CropScience has a global workforce of 20,700 and is represented in more than 120 countries. This and further news is available at: www.press.bayercropscience.com.
About Performance Plants Inc.
Performance Plants Inc. is a global leader in discovery and development of second-generation agricultural biotechnologies. The company's patented technologies enhance plant productivity (including seed yields and plant biomass) and weatherproof food and non-food biofuel crops through periods of drought and heat stresses resulting in a more abundant, consistent and cost-effective harvests for farmers. The company has a robust gene-discovery & technology evaluation pipeline, and has licensed multiple breakthrough technologies to many worlds’ leading seed companies. The privately-held Canadian company is headquartered with R&D facilities in Kingston, Ontario, Canada. Further information is available at www.performanceplants.com.
Bayer CropScience: Richard Breum, Tel. +49 2173 38-3270
Performance Plants: Paige Talledo, Tel. +1 613 545-0390
Find more information at www.bayercropscience.com
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.