BASF Signs Plant Biotech Agreement with South Korean Company, University

BASF Plant Science, Genomine, the South Korean venture company and POSTECH, the South Korean university, announced that they have entered into a license agreement focusing on the discovery of genes that help maximize yields in staple food and feed crops such as rice and corn. This includes genes that increase yield under normal circumstances as well as under adverse environmental conditions such as drought. Financial details of the agreement were not disclosed.

"In today's knowledge-based society, private-public collaborations such as this one will not only benefit the parties directly involved, but also benefit the country," Yang Do Choi, Director of the Korean Crop Functional Genomics Center, said. "Over the past decade, South Korea has taken a leadership position in plant biotechnology research."

 "The agreement with Genomine and BASF Plant Science enables POSTECH to benefit from commercial dynamism, innovation and efficiency," explained Hong-Gil Nam, Professor at POSTECH. "It will leverage POSTECH's technologies of plant functional genomics and the expertise of BASF Plant Science into further development and commercialization."

Read the media release http://www.agro.basf.com/agr/AP-Internet/en/content/news_room/index