Performance Plants agrees deal with Beijing Dabeinong
Canadian agricultural and biofuel technology company Performance Plants (Kingston, Ontario) has agreed a commercial biotechnology licensing deal in maize and a four-year R&D collaborative licensing arrangement in rice and soybeans with Chinese agricultural technology company Beijing Dabeinong Technology Group (BDTG). The Chinese company will become the exclusive user of Performance Plants’ technologies in maize in China and have non-exclusive rights in rice and soybeans. The technologies include: drought tolerance and yield protection; heat and drought tolerance; water efficiency; and yield enhancement. Performance Plants will receive upfront and milestone payments as well as royalties from BDTG from future seed sales and sublicensing activities.