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BASF Strikes Gene-Discovery Deal with South Korean University, Venture Firm

NEW YORK (GenomeWeb News) – Germany's BASF Plant Science, South Korean venture firm Genomine, and South Korean university Postech said recently that they have entered a licensing agreement focused on discovering genes to help maximize yields in staple food and feed crops such as rice and corn.

Terms of the agreement call for Postech to conduct early discovery work, for Genomine to contribute gene discovery competencies, and for BASF to further analyze and develop the genes in commercial crops, including rice and corn.

The partners will seek genes that increase yield under normal circumstances as well as under adverse environmental conditions such as drought.

Financial details were not disclosed.

Genomine, a private bio-venture firm, originated from the department of life sciences at Postech, which was founded in 1986 as Korea’s first research-oriented university.

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