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The Monsanto Company will give the Harvard Medical School up to $23 million over the next twelve years for molecular biology research, Monsanto president John W. Hanley announced yesterday in Chicago.
The agreement gives Monsanto the right to commercial development of any research products designed during the period. However, Monsanto has guaranteed Harvard control over the type of research conducted. Harvard Medical spokesman Herbert A. Shaw said yesterday.
The exchange "protects the University's role of having its say over research, while allowing both to work together towards a common goal," Shaw said.
The University group will handle the basic side of the research. Monsanto will be more oriented towards goals within industry, he added.
Part of the funding will go towards the research of M. Judah Folkman. Julia Dyckerman Andrus Professor of pediatric surgery at Harvard Medical School and chief of surgery at the Children's Hospital Medical Center.
It will also aid Bert L. Vallee, director of Harvard Medical School Biophysics Research Laboratory at the Peter Bent Brigham Hospital and Paul C. Cabot Professor of Biological Chemistry.
Folkman has done research on the tumor angiogenesis factor (IAF) which triggers blood flow release necessary for tumor growth, and Vallee has identified a link between a catalyst in the body and viruses known to cause leukemia in fowl.
Although their research is in a cancer related field, spokesmen for both the medical school and Monsanto cautioned against widespread hope for a cure.
Company spokesman Bryan Marvin said yesterday that the Harvard agreement is the first time that Monsanto has given project control to a university.
Under the terms of the agreement, donations will come to less than 2 per cent of Monsanto's normal annual research budget of $100 million.
The Monsanto Company, which manufactures more than 1000 products and produces artifical enzymes, has aided research on cells and other projects in chemistry, physics and mathematics applied to the life sciences.
Monsanto is the 38th largest company in the nation with 1974 sales of 3.5 billion and an annual research budget of 100 million.
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