Research Triangle Park, North
Carolina
November 20, 2003
Paradigm Genetics,
Inc. (Nasdaq: PDGM), a biotechnology company, today
announced that it has signed a fungicide evaluation agreement
with Bayer CropScience
whereby Bayer will test a select number of chemical compounds
validated in Paradigm’s fungicide screening program. The testing
will take place at Bayer’s research headquarters in Monheim,
Germany. Financial terms were not disclosed.
If the screening tests are successful, Bayer has the option to
enter into an exclusive licensing agreement with Paradigm to
develop the lead chemicals into commercial fungicides. Under
this scenario, Paradigm could receive a combination of research
payments, exclusivity payments, milestone payments, and/or
royalties for the lead compounds.
“While our partnered programs in herbicide discovery and crop
traits occupy center stage in our agricultural business, we have
had a successful internal fungicide discovery program in which
we’ve analyzed more than 250 targets and validated more than 50.
This program has been supported by a carefully crafted patent
strategy, as evidenced by our recently issued U.S. patents,”
said Keith Davis, Ph.D., Vice President, Agricultural Research
of Paradigm Genetics. “In recent months, we’ve found there to be
greater interest in licensing our fungicide assets. This
agreement with Bayer represents an important first step in
commercializing discoveries resulting from our fungicide
program.”
In 2003, Paradigm received two U.S. patents that may lead to the
development of novel, less toxic fungicides or antifungals,
which are highly sought after in the agricultural industry.
The first patent covers a fungicide target found in the fungal
lysine biosynthetic pathway as well as methods enabling the
discovery of chemicals that inhibit enzymatic steps within the
lysine pathway. The second covers the company’s proprietary
Transposon-Arrayed Gene Knock-Out (TAG-KO®) technology, which
covers methods for the rapid and systematic mutation of
pathogenic fungi, enabling the efficient identification of novel
antifungal and fungicide targets as well as novel biosynthetic
and degradation pathways.
The worldwide fungicide market is approximately $6 billion
annually. Demand for new fungicides with novel modes of action
is expected to remain high due to recurring fungal resistance.
Paradigm Genetics is a biotechnology company aiming to increase
R&D productivity by focusing its integrated suite of
technologies on the product development cycle - from target
discovery to the subsequent enhancement of the safety and
efficacy profiles of development candidates in agriculture and
human health. Paradigm chooses a systems biology approach to
understand gene function in the context of biological pathways,
and to develop assays and biomarkers for molecular diagnostic
solutions tailored to the needs of our partners. Paradigm's
proprietary Gene to Cell to System™ approach has four major
components: gene expression profiling, biochemical profiling
(also known as metabolomics), phenotypic profiling and data
integration and coherence. |
