BASF signs license agreement with Genomine and POSTECH

BASF Plant Science, Genomine, a South Korean venture company, and POSTECH, a South Korean university, have entered a license agreement focus on the discovery of genes that help maximise yields in staple food and feed crops.

The focus of the license agreement also includes genes that increase yield under normal circumstances as well as under adverse environmental conditions such as drought. Over the past decade, South Korea has taken a leadership position in plant biotechnology research.

BASF Plant Science entered its first South Korean cooperation in 2007 with the Crop Functional Genomics Center, a major agreement involving 40 institutes. Dr. Jürgen Logemann, Vice President Technology Management, BASF Plant Science said that the work carried out by Genomine and POSTECH complements their research activities.

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

POSTECH contributes to the agreement with its competencies in early discovery work. Additional competencies in gene discovery will be available through Genomine. BASF Plant Science is responsible for the further analysis and development of the genes in commercial crops, including rice and corn. The company brings better crops to farmers though collaborations with leading companies in the seed industry.

Financial details of the agreement were not disclosed.

BASF consolidated its plant biotechnology activities in BASF Plant Science in 1998. It optimises crops for more efficient agriculture, renewable raw materials and healthier nutrition for humans and animals.

POSTECH was South Korea's first research-orientated university. It is the No. 1 science and engineering school in South Korea.

Genomine is one of the leading bio-venture companies in South Korea. It originated from the department of Life Science at POSTECH. Genomine is currently focused on discovering the novel plant genes related to yield increase, environmental stress and lethality.