“We are excited about the collaboration with Monsanto, which is a strong partner with outstanding capabilities,” said Peter Oakley, Member of BASF's Board of Executive Directors responsible for Agriculture, Health and Nutrition. “This is a great step forward in bringing to farmers higher-yielding crops that help them to meet the increasing demand in both the food as well as renewable resources segments.”
Under this collaboration: • The companies will establish and collaboratively manage a dedicated pipeline that will focus on the development of crops with higher yields and crops that lead to consistent yields under adverse environmental conditions, such as drought. • Each company will additionally maintain independent trait discovery programs. • From the various programs, each company will nominate specific candidate genes and the most promising candidates will be advanced for accelerated joint development and for commercialization in the Monsanto pipeline. • The two companies expect to generate a greater number of viable research projects than they could have done on their own, accelerate the development of new products, and bring a greater number of traits to the market at a faster speed. • The nominated projects will be jointly funded at a 50-50 cost sharing through each phase of development as the candidate gene works its way toward commercial status. • Products that emerge from the joint development will be commercialized by Monsanto. The companies have agreed to share profits associated with commercialized products, with Monsanto receiving 60 percent of net profits and BASF receiving 40 percent of net profits.
Monsanto decided to collaborate with BASF because the company is excellently positioned to provide traits as a series of successive upgrades within a particular crop. For BASF, Monsanto's track record of commercializing traits and breeding desirable germplasm ensures that BASF's innovations quickly reach the widest base of farmers.
Additional collaboration agreed: In addition to collaboration, the companies also announced that they have entered into a separate development and commercialization collaboration to research methods to control the soybean cyst nematode, a parasitic worm that can limit and destroy yields for soybean farmers.
Both collaborations will be performed by Monsanto and BASF Plant Science, the plant biotechnology company of BASF.
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