BASF Buys CropDesign

Filed in archive Corporate and Industrial News , Food and Agriculture , Genomics, Proteomics and Bioinformatics on May 17, 2006

In December 2005, German chemical giant BASF Ag obtained exclusive rights to all crop genetic traits discovered and validated by Belgian biotech firm CropDesign using its proprietary TraitMill platform. But BASF wants the whole pie; today, BASF announced its acquisition of CropDesign.

The acquisition complements BASF Plant Science´s existing gene discovery activities and extends its leading position in access to agronomically important genetic traits. CropDesign specializes on traits for yield-enhancement, drought tolerance and improved nutrient use efficiency of crops such as corn and rice. Traits are important plant characteristics driven by genes and are the basis of the commercial use of plant biotechnology. BASF Plant Science´s long-term strategy is to develop next generation plant biotechnology products that offer clear benefits for consumers and the environment.

CropDesign's portfolio will complement Metanomics, another arm of BASF's Plant Science division, doing gene-discovery research by profiling the metabolic functions of every plant gene. All these further boost BASF's position in plant biotechnology, an industry that hopes to feed the ever-growing population on ever-decreasing resources such as land and water.

Financial details of the acquisition were not disclosed.