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BAYER CROPSCIENCE, PLANT SENSORY SYSTEMS SIGN EXCLUSIVE LICENSE AGREEMENT ON WHEAT NITROGEN EFFICIENCY
Aug. 2, 2012
Source: Plant Sensory Systems news release
Plant Sensory Systems, LLC (PSS) today announced that PSS and Bayer CropScience have signed an exclusive license agreement in the field of improving nitrogen use efficiency and stress tolerance in wheat. Under the agreement, Bayer has exclusive worldwide rights for research and development to PSS' proprietary Nitrogen Use Efficiency and Stress Tolerance (NUEST) technology in wheat. Terms of the agreement were not disclosed.
The accelerating growth of the population has created a growing demand for food, feed, and fiber. This demand coupled with diminishing acreage planted in wheat necessitates an increase in wheat yield per acre of land. Nitrogen-based fertilizers, while associated with boosting wheat yields, are a major cost to wheat farmers and have high environmental costs. Wheat varieties that produce more seed with less nitrogen fertilizer would significantly reduce crop-production costs resulting in meaningful savings to farmers.
"PSS has demonstrated the ability of the NUEST technology to produce more seed with less nitrogen,"said Kathleen Turano, President of PSS. "Crops with the technology also have the ability to withstand extended periods of drought. Both traits would be very beneficial to wheat farmers and consumers. We are pleased to be partnering with Bayer, a global market leader who shares our commitment to improve agricultural performance in a sustainable manner."
About Plant Sensory Systems
Plant Sensory Systems, LLC is a privately held agricultural biotechnology company in Baltimore, Maryland, that develops technologies to improve crop performance for production of food, feed, fiber, biofuel and bio-based products. Plant Sensory Systems has developed traits that increase yields, improve nitrogen and water use efficiency, promote tolerance to drought and high temperature, increase seed oil content, and enhance nutritional value. For more information visit: www.plantsensorysystems.com
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