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    Paradigm, Bayer AG extend commercial herbicide partnership

    Paradigm Genetics, Inc., a functional genomics company, and Bayer AG today announced an extension and expansion of their commercial partnership for herbicide discovery and development. Per the agreement, the companies will collaborate on herbicide discovery for an additional five years, with three years of committed funding, plus a two-year option that would extend the collaboration to October 2006. Under the terms of the contract, Paradigm will receive up to $30 million, including milestone payments. Paradigm will also receive success fees for all products that reach the market.
    "This extension underscores the continued success of the collaboration between our two companies and the impact that functional genomics is having on product discovery," said John A. Ryals, Ph.D., President and CEO of Paradigm Genetics. "Bayer's decision to extend our collaboration beyond the original scope is a strong endorsement of our high-throughput technologies, and the value of our data and the assays that we develop."

    "Our decision to extend and expand our partnership with Paradigm Genetics was based on the high level of success we have had to date," said Dr. Detlef Wollweber, Head of Research of the Crop Protection Business Group of Bayer. "Paradigm continues to provide us with many validated herbicide targets, high-throughput screening assays, and together we are building a strong intellectual property position to secure the use of these technologies in herbicide research. We believe that this type of research will contribute to positioning Bayer into the top league of herbicide suppliers."

    Paradigm's herbicide partnership with Bayer began in October 1998 with the objective of discovering a portfolio of novel herbicide products that will be developed and marketed by Bayer. The term of the original agreement was three years with an option to extend the relationship another two. Under that agreement, Paradigm has received research and technical milestone payments, and will receive product development milestone payments and success fees on sales of any products resulting from the partnership.

    About Bayer
    Bayer is a diversified, international chemicals and health care group, offering a wide variety of products and services from its health care, agriculture, polymers and chemicals business segments. The company employs 120,000 employees worldwide. For more information, visit www.bayer.com. For more information on Bayer's crop protection strategy, visit www.news.bayer.com.

    About Paradigm Genetics, Inc.
    Paradigm Genetics is industrializing the process of gene function discovery for four major sectors of the global economy: human health, nutrition, crop production, and industrial products. The company has designed the GeneFunction Factory? - an integrated, rapid, industrial-scale laboratory through which it discovers gene function. Paradigm and its strategic partners intend to develop novel products using information developed with the GeneFunction Factory. Paradigm's GeneFunction Factory is based on a state of the art phenomics platform integrated with metabolic profiling and gene expression profiling technologies. The backbone of the GeneFunction Factory is the company's proprietary FunctionFinder? bioinformatics system, used to collect, store, analyze, and retrieve information. For more information, visit www.paradigmgenetics.com.







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