1.BASF, Monsanto grow plant biotechnology
2.BASF and Monsanto Announce R&D and Commercialization Collaboration Agreement in Plant Biotechnology

GM WATCH comment: Interesting to see these two corporations not only hedging their bets by bringing together their future GM crop development, but also sticking rigidly within the boundaries of the GM crops for which there are already GM approvals and which can be disposed of for non-food uses or as animal feed.

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1.BASF, Monsanto grow plant biotechnology
Associated Press, 21 March 2007 http://www.chron.com/disp/story.mpl/ap/fn/4649051.html

ST. LOUIS (AP) - BASF AG, the world's largest chemical maker, and Monsanto Co. said Wednesday they will partner in a long-term plant biotechnology agreement to develop high-yielding and drought-resistant crops.

The companies will have a potential joint budget of up to $1.5 billion to fund a dedicated development pipeline of yield and stress tolerance traits for corn, soybeans, cotton and canola. The pipeline will include the companies' existing and planned yield and stress tolerance programs, as well as projects generated by independent plant biotechnology discovery and research from each company.

The first product to be developed from the joint effort is expected to be commercialized in the first half of the next decade. Agricultural products maker Monsanto will commercialize all products and receive 60 percent of the profit. BASF gets 40 percent.

The companies also signed a separate collaboration agreement to research methods to control the soybean cyst nematode, a parasitic pest that can reduce or destroy crop yields.

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2.BASF and Monsanto Announce R&D and Commercialization Collaboration Agreement in Plant Biotechnology
Press Release, BASF; Monsanto Company, March 21 2007

The companies will dedicate a joint budget of potentially $1.5 billion to fund a dedicated pipeline of yield and stress tolerance traits for corn, soybeans, cotton and canola. Under this collaboration:

-- Each company will maintain independent trait discovery 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.