Eden/Ecostyle sign fungicide deal
The UK agrochemical development company, Eden Research (Wendens Ambo, Essex), has entered into an exclusive licensing deal with the Dutch gardening input company, Ecostyle (Appelscha), for the use of Eden’s terpene-based fungicide, 3AEY, in amateur gardening. Ecostyle will pay upfront and milestone payments of $240,000, in addition to royalty payments, upon commencement of sales. The agreement covers many territories in northern and central Europe. Ecostyle has an option to extend its licence to cover the remaining EU member states and European Free Trade Association countries, subject to mutual agreement. Ecostyle is active in over ten European countries, with sales of over €11.5 million ($15.6 million at the current rate) in 2008. Eden licensed Cheminova to sell its terpene-based pesticides in parts of Europe, the CIS and the Americas in 2007 ( Agrow No 520, p 4).