A licensing agreement between Starpharma and Adama was announced March 17 by the licensing by Adama of Starpharma’s Priostar dendrimer technology.
The agreement focuses on the development and commercialization of a 2,4-D herbicide for the U.S. Starpharma will receive royalties on the sales of the Adama-developed product. In 2014, 2, 4-D was estimated to have $680 million in global sales and named one of the top three herbicides.
The new 2,4-D product with Prostar dendrimer technology is in the works and will provide better flexibility and weed-control benefits, allowing for on-target application.
"As a farmer-centric company, Adama constantly strives to bring new and innovative solutions to farmers that will simplify their lives,” Sami Shabtai, Adama's head of innovative development, said. “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. This is yet another step in the evolution and differentiation of our offering, as we continue to introduce unique mixtures and formulations to the market."
Starpharma and Adama both hope the product will be marketed in additional territories in the future.
We enjoy a positive relationship with Adama, and their extensive trials of Priostar®-improved 2,4-D formulations have led to this license agreement,” Starpharman CEO Jackie Fairley said. “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.”