The Herald-Sun, Durham, N.C. Knight Ridder/Tribune Business News
Jun. 20--PARADIGM GENETICS and Bayer AG have agreed to extend a collaborative partnership for herbicide discovery and development.
Under the terms of the five-year agreement, Paradigm will receive up to $30 million. The contract with Bayer calls for three years of committed funding and a two-year option that would extend the collaboration to October 2006, Paradigm said.
The Research Triangle Park company, which analyzes plant genes to determine their function, also would receive success fees for all products that reach the market.
Paradigm's herbicide partnership with Bayer …