News Archive
Agreement with Zagro Singapore PTE LTD
Eden Research plc, a leading UK agrochemical development company, is pleased to announce that it has entered into an agreement to work with Zagro Singapore PTE Ltd ("Zagro") to collaborate in a research and development project for the investigation and development of new insecticidal, anti-bacterial and anti- fungal formulations. This work will be undertaken at the expense of Zagro. This agreement specifically excludes Eden's lead products of Botrytis and Powdery and Downy Mildew where Eden is pursuing other international licence agreements.
Zagro will use Eden's core IP as the platform technology for the collaboration.
Under the agreement Eden will grant Zagro an exclusive licence for products that they trial and take to market in a number of selected territories.
The collaboration will cover Malaysia, Philippines, Singapore, Indonesia, Vietnam, Sri Lanka, Bangladesh, Burma, Thailand and Laos. Eden retains the marketing rights outside these territories for any joint formulations. It is anticipated that in several of the included areas, registration of the products will not be necessary and that this will lead to a revenue stream earlier than otherwise anticipated. Zagro will pay Eden a royalty payment of 7.5% on net sales on successfully taking any products to market using Eden's core IP.
The two companies will be working towards developing formulations for use in the treatment of animal and plant pathogens of particular relevance to the Asian and tropical markets.
Zagro is a leading agri-based public company, listed in the Singapore Stock Exchange and engaged in the formulation, marketing and distribution activities around the region for the past 50 years. Its core business is agri healthcare products and services for both animals and plants. Zagro provides end-user marketing and distribution from the Philippines westwards to Pakistan and the Indian subcontinent, and from China southwards to Indonesia. Zagro is active in many Asian markets, having built up a significant network of branches and distribution.
Tim Griffiths, CEO of Eden Research plc said:
"This agreement is further proof of Eden's progress. With this partnership with
Zagro, we look forward to further commercial exploitation of our patented
encapsulated terpene products for vetinary and agricultural applications"
For further information:
| Tim Griffiths, Chief Executive | Eden Research plc | Tel: 01993 868844 |
| Jonathon Brill /Caroline Stewart | Financial Dynamics | Tel: 020 7831 3113 |