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Monheim/Tokyo, February 15, 2018 – Bayer and Mitsui Chemicals Agro, Inc. (MCAG) have announced the signing of a license agreement for the development and marketing of quinofumelin, a new fungicide invented by MCAG.
Under the terms of this agreement, MCAG has granted Bayer a worldwide exclusive right to develop and commercialize quinofumelin-based products for crop use, except in other selected countries and regions including Japan where MCAG holds exclusive or shares co-exclusive rights with Bayer.
Featuring a new mode of action and broad fungicidal activity, quinofumelin will provide growers with a unique and attractive solution. It will also be an important rotation partner in managing fungicide resistance. Intended use applications for the new fungicide include fruit trees, leafy vegetables, fruiting vegetables, oilseed rape and rice. The first registration application is planned for 2020 in Japan, followed by other countries.
“Bayer is proud to help growers as they contribute to global food security,” said Dr. Adrian Percy, global head of Research and Development for the Crop Science Division. “Growers battle bacterial, viral and fungal diseases each and every season. As the world’s largest supplier of fungicides, Bayer is glad to provide growers across the globe with a new tool to safeguard crops more sustainably.”
“This new molecule was discovered by MCAG. We are very glad that the joint development has been started with Bayer on a global basis. MCAG believes that this new fungicide can contribute to the improvement of food production in the world,” said Kazunori Tani, President of MCAG.
Bayer is a global enterprise with core competencies in the Life Science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2016, the Group employed around 99,600 people and had sales of EUR 34.9 billion. Capital expenditures amounted to EUR 2.2 billion, R&D expenses to EUR 4.4 billion. For more information, go to www.bayer.com.
About Mitsui Chemicals
Mitsui Chemicals (Tokyo: 4183, ISIN: JP3888300005), which traces its roots back to 1912, had annual sales of 1,200 billion yen in the fiscal year ending March 2017 and has more than 130 companies with over 13,000 employees in 28 countries. As one of Japan’s leading chemical companies, Mitsui Chemicals contributes broadly to society by providing high-quality products and services to customers through innovations and the creation of materials and products while keeping in harmony with the global environment. Its business portfolio includes materials for next-generation mobility, healthcare services, packaging, agrochemicals, electronic materials, and environment and energy sector. Mitsui Chemicals will continue to contribute to solving social challenges with its state-of-the-art technology and by "Creating New Customer Value through Innovation". Mitsui Chemicals’ global agrochemical business is operated by its 100% subsidiary, Mitsui Chemicals Agro, Inc., which supplies innovative agrochemicals for crop protection and and pest management. With a customer-centric point of view, The Company offers unique and effective products and services, and contributes to the sustainable, productive agriculture. Latest group news can be found at https://www.mitsuichem.com/en/.
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.