Licensing
Plant Impact plc, a developer of technologies that improve crop productivity, has agreed an exclusive licence agreement with the agrochemicals company Arysta LifeScience Corporation, for Plant Impact’s natural pesticide BugOil.
The licence grants Arysta the exclusive right to manufacture, market, sell and distribute BugOil, an insecticide consisting of a blend of plant essential oils that is active against sap-feeding pests including mites, whitefly, thrips and aphids.
BugOil has similar insecticide effects to chemical pesticides, but has a minimal environmental impact. Competitor products currently have sales of $800 million per annum.
Plant Impact announced in December 2008 that the product registration dossier for European Union regulatory approval for BugOil submitted in August 2008 had been passed as complete by the Pesticides Safety Directorate in the UK. The Company expects to receive approval towards the beginning of 2010, leading to first sales during the same year. The company is working in conjunction with Arysta for registration in the US, Latin America, Europe, Africa and the Middle and Far East.
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