Valent/Evolva agree deal on bioactives
Sumitomo Chemical's US-based biopesticide and biorational products subsidiary, Valent BioSciences (VBC - Libertyville, Illinois), and Swiss sustainable technology company Evolva (Reinach) have agreed to co-develop and commercialise “a class of high-value active ingredients for use as next-generation agricultural bioactives”. The collaboration will start by developing yeast strains that make the desired ingredients. Evolva has the primary responsibility for this phase while VBC will be responsible for commercialisation. The companies will work together on scale-up and manufacturing. The first products from the collaboration are expected to be launched in 4-5 years. Total spending on the project during the next five years is estimated to reach CHF 12-14 million ($12.4-14.5 million). The companies have agreed to split the R&D costs and profits equally from active ingredient sales. "This collaboration aligns well with VBC’s growth strategy in the area of bioactives," says executive vice-president and COO Ted Melnik. Sumitomo Chemical is integrating VBC with its crop protection business in a two-phase process starting this month.