Monday, September 19, 2011

Syngenta obtains Econem in Pasteuria Bioscience agreement

Syngenta Lawn & Garden announced today that it has entered into an agreement with Pasteuria Bioscience Inc., a U.S.-based biotechnology company. Under the terms of the agreement, Syngenta’s Turf & Landscape division will have exclusive licensing and distribution rights in global turf markets to Pasteuria Biosciences existing and future nematicide product lines based on the naturally occurring biological agent Pasteuria.

As a result of the agreement, Syngenta will obtain Econem for the Lawn & Garden Turf portfolio, Pasteuria Bioscience’s first commercialized product containing Pasteuria microbes. Launched in 2010, Econem has been proven to control sting nematodes, one of the most widespread and destructive types. A liquid version has recently gained EPA registration, and a combination offer, to control in addition lance nematodes, is in late stage development. Sting and lance nematodes are two examples of prevalent nematode pests in the U.S. market affecting golf courses and sports fields.

“Our customers have told us that they are extremely interested in how these new and environmentally favorable options can be effectively used to control pests,” says Mike Parkin, global head, Turf & Landscape, Lawn & Garden.

"This agreement further strengthens our relationship with Syngenta and serves as further validation of the technology," said David Duncan, Ph.D., chief executive officer for Pasteuria Bioscience. "We are very excited about Syngenta’s plan to resource and fully realize the potential of these Pasteuria-based products in the golf course and other turf grass markets.”

In June 2011, Syngenta entered into an exclusive global technology agreement with Pasteuria Bioscience with the aim of developing innovative bio-nematicides to control nematodes across a broad variety of crops.

Financial details have not been disclosed.

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