Bayer CropScience and Plant Health Care sign Myconate development and commercialization agreement
Bayer CropScience AG and Plant Health Care Inc, a wholly owned subsidiary of Plant Health Care plc have entered into an agreement of up to ten years to develop new seed treatment solutions based on Plant Health Care´s Myconate technology in combination with Bayer CropScience´s seed treatment products. The agreement enables Bayer CropScience to develop and commercialize new seed treatment solutions.
Plant Health Care will receive an undisclosed up-front payment, two milestone payments, dependent on the progress of the development, over the next two years and supply payments. The companies believe that Myconate enhanced seed treatment products could be available to growers as early as 2009, subject to regulatory approvals.
In the seed treatment segment, Bayer CropScience offers a broad portfolio of high-quality products to combat pests and fungal diseases. Plant Health Care´s Myconate technology is known to help crops to develop larger root mass through the stimulation of naturally occurring mycorrhizal fungi, which in turn often leads to improved yields and enhanced stress resistance. Both companies will collaborate on the further development of Myconate as a seed treatment product in corn, soybean, cotton and sunflower on a worldwide basis.
Other news from the department business & finance
