10th Sep 2009 07:00
|
For immediate release |
10 September 2009 |
TYRATECH, INC.
("TyraTech" or "the Company")
Partnership Agreement with Clarke Mosquito Control
for mosquito products
~ Channel to market established via leading US company ~
TyraTech, Inc. (AIM: TYR), a leading independent novel clean technology company for human, animal and environmental health, is pleased to announce that it has today signed a strategic partnership agreement (the "Agreement") with Clarke Mosquito Control ("Clarke"), the leading provider of professional contract mosquito services and products in the US.
Under the Agreement, Clarke will have exclusive rights to develop, market and sell products exploiting the TyraTech Natural technology for the US vector control market, along with non-exclusive access to these products in a range of other countries. Clarke will fund the development of these new products.
The Agreement gives TyraTech the right to use the products developed by Clarke using TyraTech technology in all remaining territories and in other market segments for all territories. TyraTech will supply a pipeline of natural active ingredients that have been engineered by TyraTech to deliver the next generation of natural products and new innovative chemistries that are currently not in the marketplace. Clarke, a family owned business, has been at the forefront of the US mosquito control industry since 1946, offering services, products and equipment that aid the control of mosquito populations. Clarke is the market leader in the US vector control industry and is also internationally active with established businesses.
Commenting on the announcement, Douglas Armstrong Ph.D., Chief Executive Officer of TyraTech, said: "By partnering with Clarke to develop our TyraTech Nature's technology for mosquito control applications, TyraTech is working with the leading US mosquito control company and will benefit from their substantial expertise and established sales channels in this market. TyraTech's Nature's technology based products and its EXTEND product range, should bring a unique profile to the mosquito control market."
"Our Agreement with Clarke builds further partnering momentum for TyraTech and validates our business model which brings together multiple revenue streams by working with the best partners that have established expertise in their market sector, as well as accessing appropriate markets directly."
For further information please contact:
TyraTech Inc.
Douglas Armstrong Ph.D., Chief Executive Officer +1 (321) 409 7723
Keith Bigsby, Chief Financial Officer +1 (321) 409 7714
www.tyratech.com
Nomura Code Securities
Charles Walker/Clare Terlouw +44 (0)20 7776 1200
www.nomuracode.com
Buchanan Communications
MaryߛJane Elliott / Lisa Baderoon +44 (0)20 7466 5000 / Catherine Breen / Stasa Filiplic
www.buchanan.uk.com
About Clarke Mosquito Control
Based in Illinois, USA, Clarke is a global environmental products and services company whose mission is to make communities around the world more livable, safe and comfortable. This is done by pioneering, developing and delivering environmentally responsible mosquito control and aquatic services to help prevent disease, control nuisances and create healthy waterways. www.clarke.com
About TyraTech
TyraTech was formed in 2004 to develop and commercialise products for the control of invertebrate pests and pathogens using the Company's proprietary technology. TyraTech, which already has a product on the market, is positioned for human health, animal health and pesticide market opportunities which total over $32 billion globally. TyraTech's technology provides the Company with a wide variety of product and business opportunities in many markets and geographic regions. The differentiating feature of these products is the potential to have a combined level of potency and safety that other invertebrate control products are unable to offer. TyraTech's platform brings many of the principles of drug discovery and development to the fields of insecticides and parasiticides. By targeting specific chemoreceptors that are found in invertebrates but not in humans and animals, TyraTech can produce products that use natural plant derived compounds targeting these receptors.
TyraTech's plan for the use of its technology is to develop selected proprietary active ingredients which can then be used across a wide variety of market segments, either by development partners or by TyraTech itself. TyraTech already has products or partnerships in the areas of professional and horticultural insect control, and for an insect/mosquito repellent. TyraTech also has an innovative partnership with Kraft to use its natural oils to develop functional foods for improving the health of the more than 2 billion people worldwide subject to intestinal parasitic infections.
TyraTech also has a separate technology with associated intellectual property that is the basis for the Sustainable Solutions business. This technology has been incorporated into specialised dairy farm equipment for processing cattle manure waste to a usable material for TyraTech to sell as a commercial plant growing medium. For more information please visit www.tyratech.com.
TyraTech Natural
TyraTech Natural products contain a mixture of active ingredients which are derived from plant oils. The components and relative percentages have been selected using the company's proprietary platform technology for maximum synergistic activity against the targeted insect or parasite.
The TyraTech Natural components make these products suitable for:
human and animal treatments;
use in areas with heavy human contact;
use in areas where food is transported, stored or processed;
markets which desire all-natural active ingredients; and
overcoming pesticide resistance by insects.
TyraTech EXTEND
TyraTech EXTEND products are based on a synergistic combination of selected natural active ingredients with selected synthetic pesticide compounds..
TyraTech EXTEND products are intended to expand the market and partnering opportunity for TyraTech, by:
reducing the concentration of active ingredients needed to achieve a net efficiency, with associated improved profit margin;
extending useful life of existing synthetic components by overcoming pesticide resistance by insects;
extending patent life for synthetic compounds;
providing highly potent pesticides for use in outside areas that do not have heavy human contact (such as farm fields, or wide-spread rural spraying).
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