Bayer CropScience AG Adds Third License to Senesco Technologies, Inc.'s Gene Technology

NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--Senesco Technologies, Inc. ("Senesco" or the "Company") (AMEX:SNT) announced today that the Company and Bayer CropScience entered into a licensing agreement (the “Agreement”) pursuant to which Bayer CropScience was granted the exclusive, worldwide rights to Senesco’s proprietary gene technology for use in rice. The Agreement anticipates that the licensed technology will enable Bayer CropScience to significantly enhance seed yields. In return, Senesco will receive success-bound development milestone and royalty payments upon commercialization. Specific financial terms of the transaction were not disclosed.