Biotech Updates

Bayer and FuturaGene Sign Drought Tolerance Technology Licensing Deal

December 4, 2009

Bayer CropScience and London-based FuturaGene PLC announced that they have entered into a license agreement for a drought tolerance technology. The agreement grants Bayer CropScience exclusive worldwide rights to utilize a FuturaGene technology to protect the yield of cotton plants when they are subjected to drought. The London-based biotech company will receive an upfront license fee, followed by development milestone payments and trait royalties on sales of cotton seeds incorporating this technology. Further financial details were not disclosed.

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