BASF and Monsanto Announce R&D and Commercialization Collaboration Agreement in Plant Biotechnology
21 3월 2007 - 9:00PM
PR Newswire (US)
-- Agreement aimed at developing higher-yielding crops that are
more tolerant to adverse environmental conditions such as drought
LUDWIGSHAFEN, Germany and ST. LOUIS, March 21
/PRNewswire-FirstCall/ -- BASF (NYSE:BF) and Monsanto Company
(NYSE:MON) today announced a long-term joint research and
development (R&D) and commercialization collaboration in plant
biotechnology that will focus on the development of high yielding
crops and crops that are more tolerant to adverse environmental
conditions such as drought. The collaboration is effective
immediately. Over the life of the collaboration, the two companies
will dedicate a joint budget of potentially $1.5 billion/euro 1.2
billion to fund a dedicated pipeline of yield and stress tolerance
traits for corn, soybeans, cotton and canola. The joint pipeline
will include the companies' existing and planned yield and stress
tolerance programs and be comprised of projects generated by
independent plant biotechnology discovery and research from each
company. The first product developed as part of this collaboration
is expected to be commercialized in the first half of the next
decade. "We are pleased to be able to work with BASF in order to
enhance our ability to identify and commercialize new traits that
have the potential to bring substantial value to farmers," said
Robb Fraley, Chief Technology Officer and Executive Vice President
of Monsanto. "By broadening the pipeline of potential traits,
exchanging technology and sharing risk, this collaboration can
accelerate the discovery of next-generation technologies for the
farm and effectively double the risk-adjusted net present value of
Monsanto's yield and stress trait technology pipeline." "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.
In addition to today's 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. Additional Information Presentations related to today's
announcement may be accessed by visiting Monsanto Company's Web
site at http://www.monsanto.com/ or BASF's Web site at
http://www.basf.com/ . In conjunction with this announcement, BASF
and Monsanto will hold a joint conference call for investors and
media. The call is scheduled for 9 a.m. EDT (2 p.m. CET) today,
Wednesday, March 21, 2007. Presentation slides and a simultaneous
audio webcast of the conference call may be accessed by visiting
the companies' web sites at http://www.monsanto.com/ and clicking
on "Investor Information" or http://www.basf.de/share . Visitors
may need to download Windows Media Player(TM) prior to listening to
the webcast. Following the live broadcast, a replay of the webcast
will be available on the Monsanto and the BASF web sites for three
weeks. About Monsanto Monsanto is an agriculture company. The
company is a leading provider of technology-based solutions and
agricultural products that improve farm productivity and food
quality. Monsanto is committed to investing in products that can
make a difference for its farmer customers and the land they farm.
The company uses plant breeding, plant biotechnology and other
applications of modern science to support its commitment to
agriculture and the farmers that feed, clothe and fuel our growing
world. For more information on Monsanto, see
http://www.monsanto.com/ . About BASF Plant Science BASF founded
BASF Plant Science in 1998 as its own biotechnology company. BASF
Plant Science coordinates a research and development platform in
Europe and North America with about 700 employees working to
optimize crops for the following sectors: more efficient
agriculture, renewable raw materials for specialty products and
healthier nutrition for humans and animals. BASF Plant Science
focuses on second- and third-generation plant biotechnology
products and has a strong discovery platform for agronomically
important traits. The company's program is based on several
technology platforms with innovative discovery approaches currently
not used by any other company. These include high-throughput
phenotyping at CropDesign in Ghent, Belgium, and high-throughput
metabolic profiling at Metanomics in Berlin. To find out more about
BASF Plant Science, please see http://www.basf.com/biotechnology .
About BASF BASF is the world's leading chemical company: The
Chemical Company. Its portfolio ranges from chemicals, plastics,
performance products, agricultural products and fine chemicals to
crude oil and natural gas. As a reliable partner to virtually all
industries, BASF's high-value products and intelligent system
solutions help its customers to be more successful. BASF develops
new technologies and uses them to meet the challenges of the future
and open up additional market opportunities. It combines economic
success with environ-mental protection and social responsibility,
thus contributing to a better future. BASF has over 95,000
employees and posted sales of euro 52.6 billion/$66.1 billion in
2006. BASF shares are traded on the stock exchanges in Frankfurt
(BAS), London (BFA), New York (BF) and Zurich (AN). Further
information on BASF is available on the Internet at
http://www.basf.com/ . Forward-Looking Statements: As it pertains
to BASF: This press release contains forward-looking statements
under the U.S. Private Securities Litigation Reform Act of 1995.
These statements are based on cur-rent expectations, estimates and
projections of BASF management and currently available information.
They are not guarantees of future performance, involve certain
risks and uncertainties that are difficult to predict and are based
upon assumptions as to future events that may not prove to be
accurate. Many factors could cause the actual results, performance
or achievements of BASF to be materially different from those that
may be expressed or implied by such statements. Such factors
include those discussed in BASF's Form 20-F filed with the
Securities and Exchange Commission. We do not assume any obligation
to update the forward-looking statements contained in this
presentation. As it pertains to Monsanto: Certain statements
contained in this press release are forward-looking statements,
such as statements concerning the company's future product
performance, regulatory approvals, business and financial plans and
other non- historical facts. These statements are based on current
expectations and currently avail-able information. However, since
these statements are based on factors that involve risks and
uncertainties, the company's actual performance and results may
differ materially from those described or implied by such
forward-looking statements. Factors that could cause or contribute
to such differences include, among others: the success of the
companies' research and development activities; the costs of and
the companies' abilities to access and enforce intellectual
property needed for the collaboration; the costs and requirements
of regulatory compliance and the speed with which approvals are
received; public acceptance of biotechnology products; and other
risks and factors detailed in the company's most recent periodic
report to the SEC. Undue reliance should not be placed on these
forward-looking statements, which are current only as of the date
of this presentation. The company disclaims any current intention
or obligation to update any forward-looking statements or any of
the factors that may affect actual results. DATASOURCE: Monsanto
Company; BASF CONTACT: Media Inquiries, Lee Quarles, Monsanto
Company, +1-314-694-2330 or +1-314-406-5739; or Michael Grabicki,
BASF, +49.621.60.999 38, or Investor Inquiries, Scarlett Lee
Foster, Monsanto Company, +1-314-694-8148; or Magdalena Moll, BASF,
+49.621.60.48230 Web site: http://www.monsanto.com/
http://www.basf.com/ http://www.basf.com/biotechnology Company News
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