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Bayer CropScience and FuturaGene sign license agreement for drought tolerance technology in cotton

08 Dec 2009 - Bayer CropScience and FuturaGene PLC have entered into a license agreement for a drought tolerance technology. The agreement grants Bayer CropScience exclusive worldwide rights to utilize a FuturaGene drought tolerance technology in cotton. FuturaGene 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.
 
The technology licensed to Bayer is intended to protect the yield of cotton plants when they are subjected to drought. Drought is one of the principal environmental limits of crop yield as it hampers the cultivation of crops on more than 40 percent of the earth’s land surface, posing a serious threat to global agricultural production and food supplies.