The correct answer is option 3, which means both statement 1 and 2 are correct.

Statement 1: "It is the largest observatory ever launched into space." This statement is correct. The James Webb Space Telescope (JWST) is indeed the largest observatory ever launched into space. It is designed to be significantly larger than the Hubble Space Telescope, with a primary mirror that is 6.5 meters in diameter.

Statement 2: "It has been developed by NASA in partnership with the European Space Agency and the Canadian Space Agency." This statement is also correct. The JWST is a collaborative project between NASA, the European Space Agency (ESA), and the Canadian Space Agency (CSA). These agencies have come together to develop and launch the telescope, combining their expertise and resources.

Therefore, both statements 1 and 2 are correct, making option 3 the correct answer. The JWST is indeed the largest observatory ever launched into space, and it has been developed by NASA in partnership with the ESA and CSA.