DuPont and Beijing Weiming Kaituo Agriculture Biotechnology Co., Ltd. (BWK) today announced the formation of a joint venture to accelerate the discovery of genes for high value agronomic traits such as stress tolerance and efficient nutrient utilization to improve the performance of important crops for farmers in China and throughout the world.
For DuPont, this marks another step toward the globalization of its R&D capabilities to accelerate new product launches and drive business growth for its worldwide seed business, Pioneer Hi-Bred. The financial terms of the agreement were not disclosed.
"This new joint venture brings together industry- leading biotechnology researchers to develop enabling technologies and discover new genes for important agronomic traits that can further improve farmer productivity and profitability globally. BWK's strengths in functional genomics and molecular breeding will make a major impact across our entire product pipeline," said Bill Niebur, DuPont vice president, Crop Genetics Research and Development.
Peking University and its affiliate, Peking University Weiming Biotech Group Co., Ltd., are significant participants in the joint venture through an ownership stake in BWK.
The joint venture will be managed by Dr. James H. Zhou, former chief executive officer of BWK. Dr. Guihua Lu of DuPont Crop Genetics has been appointed as deputy general manager and technology manager.