RESEARCH TRIANGLE PARK, N.C. — Bayer CropScience announced on May 6 a strategic innovation partnership with Flagship Ventures, a leading venture capital and venture creation firm. The partnership also includes an investment in Flagship Ventures Fund V, a $537 million venture capital fund that closed in March 2015. Bayer CropScience brings its strengths in science, innovation and regulatory affairs to help Flagship to identify, fund and develop startup companies exploring new frontiers in agriculture.
“Emerging challenges in agriculture are leading the industry in new and exciting directions,” said Liam Condon, chief executive officer of Bayer CropScience. “With growing pest pressures, weather volatility and changes in consumer tastes, growers need and are counting on new solutions to increase yields on the farm. Bayer is committed to providing them with new innovations. We look forward to working with Flagship Ventures to bring exciting, breakthrough companies to market.”
Bayer CropScience joins AstraZeneca and Nestlé Health Science as strategic innovation partners in Flagship Ventures Fund V. The fund will focus on innovations in healthcare and sustainability in the energy, water, agriculture and nutrition sectors. Financial terms were not disclosed.