Bayer CropScience and Flagship Ventures Partner to Fund Ag Innovation

Bayer CropScience has announced a strategic innovation partnership with venture capital firm, Flagship Ventures, and an investment of $537 million into Flagship Ventures Fund V that closed in March of this year.

As technologies that affect agricultural production expand to include applications in Data and IT management, remote sensing and genomics, Bayer CropScience will call upon its expertise in the scientific, regulatory, and innovation fields to help Flagship identify game-changing technologies with potential in the agriculture and agtech space that are prime for development and funding.

Through this partnership, Bayer CropScience joins Nestle Health Science and AstraZeneca as innovation partners in Flagship Ventures Fund V, formed to focus on innovation in sustainability in the energy, agriculture, water, and nutrition sectors and healthcare.

Liam Condon, chief executive officer of Bayer CropScience states, “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 is a significant investor in research and development in the cutting edge technologies of trait development, breeding, and molecules and small biologics. Geoff Kneen, Bayer CropScience R&D licensing and new ventures manager for North America, states, “We must improve food production to feed a growing planet and are looking for ways to gain access to new technologies.”