May 5, 2015BCS announces partnership with Flagship Ventures
Bayer CropScience (BCS) has formed a strategic innovation partnership with Flagship Ventures, a capital and venture creation firm based in Cambridge, Massachusetts.
The partnership is a collaborative agreement that includes AstraZeneca and Nestlé Health Science.
We must improve food production to feed a growing planet and are looking for ways to gain access to new technologies,” said Geoff Kneen, BCS research and development licensing and new ventures manager for North America, in the press release announcing the partnership. “As the interest in agriculture rapidly expands to include different areas of innovation, such as genomics, IT/data management and remote sensing, we want a window into that new innovation. Flagship shares our vision for solving some of the challenges facing modern production agriculture.”
As part of the partnerships, AstraZeneca, Nestlé Health Science and BCS each invested in Flagship Ventures’ Fund V, a $537 venture capital fund. Financial terms were not disclosed.