8th Jan 2020 11:03
(Alliance News) - Crop protection products developer Eden Research PLC said Wednesday it has a signed a one-year exclusive evaluation agreement with the US's Corteva Agriscience.
Under the agreement, NYSE-listed agricultural chemicals firm Corteva Inc will be given until 2020 to evaluate Eden's Sustaine encapsulation technology, and other formulations in biological seed treatment applications.
Should the tests be successful, Corteva will be granted exclusive distribution rights in the EU, Russia, Ukraine and Turkey.
"The potential use of Eden's active ingredients and Sustaine formulation technology in seed treatments has been understood by Eden for some time, but this is the first opportunity on a major scale where we have partnered with a company to develop fully and commercialise a product using Sustaine in this new application area," said Chief Executive Officer Sean Smith.
"We are very pleased to be partnering with Corteva who, aside from being one of the largest agriculture input companies in the world, is particularly well known for its expertise in the area of seeds and seed treatments. This agreement follows positive initial field trials which Corteva undertook during 2019 and so this next stage represents a great step forward in our working partnership," Smith added.
Corteva Agriscience was the agriculture division of DowDuPont before being spun off and listed in New York back in June. DowDuPont itself was split into Dow Inc and DuPont de Nemours Inc last year.
Shares in Eden Research - which is based in Poulton - were down 1.0% at 9.75 pence on Wednesday in London.
By Dayo Laniyan; [email protected]
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