LEVERKUSEN, Germany, and RALEIGH, N.C., Oct. 26 /PRNewswire/ -- Bayer AG
and Paradigm Genetics Inc. of the United States have signed a contract under
which they will collaborate in the search for novel screening targets which
will lead to the development of new herbicides. Under the terms of the
contract, Paradigm will receive up to $40 million, including milestone
payments. Paradigm will also receive success fees for all products that reach
the market. This is the third cooperation project in the field of genetic
engineering in crop protection that Bayer has signed this year.
Paradigm brings to the collaboration its expertise in identifying gene
function, bioinformatics and assay development. Genes identified as being
responsible for new targets will be subjected to high throughput screening.
Bayer is providing its experience in the development of crop protection
products for the agricultural market. Its researchers will use the assays
developed by Paradigm to screen against its extensive library of chemical
compounds, followed by evaluation of leads in vivo and then the development
and commercialization of those compounds that prove to be innovative and
highly effective herbicides.
"Our objective is to identify previously unknown targets for herbicides so
this knowledge can be utilized to develop new products," said Dr. John Ryals,
President and Chief Executive Officer of Paradigm Genetics. His company is
working with genetic engineering to improve seeds and weed control, thereby
contributing towards enhancing worldwide food production.
According to Dr. Jochen Wulff, General Manager of Bayer's Crop Protection
Business Group, "the contract marks a continuation of Bayer's strategy of
collaborating with outside organizations and will enable us to use available
gene technology know-how to develop new crop protection products." Paradigm
is a particularly suitable partner in research into identifying gene function,
he said, because of its track record in discovering biochemical
characteristics in plants. "This collaboration underscores our intent to use
innovative technology to develop highly effective, safe and targeted crop
protection products for the agricultural industry, that are commercially
attractive and environmentally more beneficial," said Jochen Wulff.
Bayer is an international, research-based group with major businesses in
health care, chemicals and imaging technologies. With more than 145,000
employees worldwide, the group recorded income before taxes of DM 5.1 billion
on sales of DM 55 billion in 1997. For the current year, DM 5 billion is
earmarked for capital expenditures. A record DM 4.1 billion is budgeted for
research and development, attesting to the company's drive for innovation.
Bayer's Crop Protection Business Group is one of the world's leading suppliers
of crop protection products, with 1997 sales of DM 3.9 billion.
Paradigm Genetics Inc., Raleigh (North Carolina/USA) specializes in the
identification of genes for development of new herbicides, fungicides and
pesticides and for improving the quality of seeds.
SOURCE Bayer Corporation
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