13th Apr 2015 06:31
LONDON (Alliance News) - Eden Research PLC on Monday said it has signed an option deal with the crop protection arm of Taminco, the specialty chemicals company, following a series of successful field trials conducted in the second half of 2014.
The agreement gives Taminco, a subsidiary of US-based chemicals company The Eastman Chemical Co, the right to further evaluate and conduct large-scale marketing and regulatory trials with Eden's B2Y nematicide product for crop protection until March 31, 2016.
Eden said it is anticipated that following a successful outcome to the option deal in 2015, the pair will negotiate a global licensing agreement to allow for the commercialisation of the product.
A nematicide is a type of chemical pesticide used to kill plant-parasitic nematodes.
Eden did not provide any financial details on the agreement.
"This agreement with Taminco reflects our strategy to partner with global industry leaders and leverage their expertise and market access to commercialise Eden's products. This means that product sales, and therefore royalty revenues to Eden, will be accelerated and maximised when compared to undertaking this process ourselves," said Eden Chief Executive Sean Smith.
By Sam Unsted; [email protected]; @SamUAtAlliance
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