Bio-Gene Technology Limited (BGT), an ag-tech development company aiding the next generation of novel insecticides, announced the signing of a Development and License Agreement with STK Bio-Ag Technologies (STK).
STK is an Israel-based botanical-based solution company for crop protection. STK is also the innovator of the first-ever ‘hybrid’ fungicides, enabling growers to achieve better resistance management, higher yields, reduced chemical residues and greater exportability to countries, regions and retail chains with very strict chemical residue limits, the company states.
This agreement formalizes the existing binding term sheet between Bio-Gene and STK in which Bio-Gene grants STK a worldwide non-exclusive license to develop Qcide technology for crop protection applications and aquaculture, professional turf and ornamentals markets. Bio-Gene retains exclusive rights to the public health, animal health and consumer markets for Qcide globally, while retaining non-exclusive rights for the STK field of use markets.
Under the Development and License Agreement:
- STK will fully fund registration costs relating to the Qcide active ingredient. This includes required environmental and toxicology studies, field trials and the costs of preparing the regulatory submissions.
- While STK will have ownership of the resulting registrations, Bio-Gene will continue to the IP relating to Qcide, and has unlimited access to the registrations for exclusive use in public health, animal health and consumer markets for Qcide globally.
- Bio-Gene can work with other commercial partners to develop and commercialize products in all market segments, including those licensed to STK on a non-exclusive basis.
The proposed collaboration will also see STK use its existing expertise and capabilities in the production of natural plant extracts to develop a secondary manufacturing and supply source for Qcide. Both companies are also assessing the potential for Bio-Gene to be appointed as a marketing and sales agent for STK products (products based on Qcide and other STK products) in Australia and New Zealand.
