Dendrimer technology licensed for herbicide
Crop protection company Adama has licensed Starpharma’s (ASX:SPL) Priostar dendrimer technology for the development of an enhanced 2,4-D herbicide for the US market. 2,4-D (2,4-Dichlorophenoxyacetic acid) is one of the top three herbicides sold worldwide, with global sales in 2014 estimated by Phillips McDougall to be around US$680 million.
Starpharma’s Priostar dendrimer technology is said to offer formulation and efficacy benefits in crop protection applications, including improved efficacy, more concentrated formulations to reduce transport costs, reduction in solvent requirements and increased adhesion. Adama has already commenced development of a 2,4-D product containing the technology, which is expected to provide better flexibility and weed control benefits to the grower as well as improved safety.
“The innovative nature and superior performance of the Priostar formulations fit well with our strategy to deliver simple and efficient solutions to farmers to help them grow,” said Sami Shabtai, head of innovative development at Adama.
Under the licence, Starpharma will receive royalties on sales of the proprietary Adama Priostar-improved 2,4-D products. In addition to the US, the agreement also includes a mechanism to expand the licence into additional territories.
“We enjoy a positive relationship with Adama, and their extensive trials of Priostar-improved 2,4-D formulations have led to this licence agreement,” said Starpharma CEO Dr Jackie Fairley. “With Adama’s strong, proven record of innovative product development, we are very pleased to have them as commercial partners for Priostar-improved 2,4-D products. In addition, we continue to explore other Priostar product opportunities with Adama.”
Starpharma (ASX:SPL) shares were trading were trading 0.775% higher at $0.65 as of around 2.30 pm on Friday.
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