|
USA – BAYER, SENESCO DEAL ON CANOLA
Bayer CropScience licenses rights to Senesco Technologies' gene technology
10 November, 2006. Source: Senesco
NEW BRUNSWICK, N.J. -- Senesco Technologies, Inc. announced today that Bayer
CropScience has exclusively licensed the rights to Senesco's proprietary gene technology for use in Brassica oilseeds.
The agreement anticipates that the licensed technology will enable Bayer CropScience to significantly enhance Canola yields in its InVigor and future hybrid's business on a global basis. In return, Senesco will receive success-bound development milestone and commercialization payments. Specific financial terms of the transaction were not disclosed.
"Senesco is proud to have Bayer CropScience as a partner for this important crop. We look forward to working with Bayer CropScience due to their marketing strength and commitment to science," said Bruce Galton, President of Senesco.
Dr. Michiel van Lookeren Campagne, Head of Research at BioScience, a business operations unit of Bayer CropScience, welcomes the new business relationship with Senesco: "Bayer CropScience has grown to be a leading company in the canola seed market with InVigor®, our high quality, high yield Canola hybrid varieties.
Senesco has shown that the seed yield of Canola can be significantly increased by modulating the expression of its proprietary genes. We anticipate that the innovative Senesco technology will contribute to further strengthen our leadership position in the
global hybrid Canola markets."
About Senesco Technologies, Inc.
Senesco Technologies, Inc. is a U.S. biotechnology company. Senesco has initiated
preclinical research to trigger or delay cell death in mammals (apoptosis) to determine if the technology is applicable in human medicine. Accelerating apoptosis may have applications to development of cancer treatments. Delaying apoptosis may have applications to certain diseases such as glaucoma, ischemia and arthritis, among others. Senesco takes its name from the scientific term for the aging of plant cells: senescence. The Company has developed technology that regulates the onset of cell death. Delaying cell breakdown in plants extends freshness after harvesting, while increasing crop yields, plant size and resistance to environmental stress for flowers, fruits and vegetables. In addition to its human health research programs, the Company believes that its technology can be used to develop superior strains of crops without any modification other than delaying natural plant senescence.
|
