BASF And Monsanto To Collaborate On Plant Biotechnology
21 March 2007 Separately, the two companies have agreed to a development and commercialization collaboration to research methods to control the soybean cyst nematode (SCN). Both combined efforts will be performed by Monsanto and BASF Plant Science, BASF’s plant biotechnology company.
Both companies agree that by exchanging information and sharing technology, they can accelerate discovery and commercialization. However, each company will also retain independent trait discovery ventures.
Each company will nominate particular candidate genes from the different projects; the most promising possibilities will advance for accelerated collective development, then for commercialization by Monsanto. Nominated projects will be jointly funded through every phase of development at 50-50 cost sharing.
Monsanto will commercialize all products produced from collaborative efforts. Both companies will share commercialized products profits, with Monsanto receiving 60% of net profits and BASF receiving 40%.
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