Bio-Gene Technology Limited (BGT), an agricultural technology firm focused on advancing innovative insecticides, has announced the formalization of a Development and License Agreement with STK Bio-Ag Technologies (STK), a company specializing in botanical-based solutions for crop protection based in Israel.
STK is renowned for introducing pioneering ‘hybrid’ fungicides, which empower growers to enhance resistance management, achieve higher yields, reduce chemical residues, and adhere to stringent chemical residue limits imposed by various countries, regions, and retail chains.
This agreement solidifies the previously established binding term sheet between Bio-Gene and STK. As per the agreement terms:
- License Scope: Bio-Gene grants STK a worldwide non-exclusive license for the development of Qcide technology, catering to applications in crop protection, aquaculture, professional turf, and ornamental markets.
- Exclusive and Non-Exclusive Rights: Bio-Gene retains exclusive rights to Qcide technology for global application in public health, animal health, and consumer markets. Concurrently, it retains non-exclusive rights for the STK-defined markets.
- Funding and Ownership: STK will completely fund registration expenses linked to the Qcide active ingredient, covering environmental and toxicology studies, field trials, and regulatory submission preparation. Although STK will possess resulting registrations, Bio-Gene maintains intellectual property rights concerning Qcide. It has unrestricted access to these registrations for exclusive utilization in public health, animal health, and consumer markets globally.
- Collaboration and Commercialization: Bio-Gene can collaborate with other commercial partners to develop and market products across all segments, including those under non-exclusive licensing to STK.
- Secondary Manufacturing and Supply: STK will leverage its expertise in natural plant extract production to establish a supplementary manufacturing and supply source for Qcide.
- Sales and Marketing: The collaboration may lead to Bio-Gene functioning as a marketing and sales agent for STK products, encompassing those based on Qcide and other offerings, within Australia and New Zealand.
This partnership showcases the intention of both companies to synergize their strengths for the advancement and dissemination of Qcide technology in various markets while upholding distinctive rights within defined domains.
