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TheStreet Open House

Starpharma And Makhteshim Agan In Priostar Agrochemical Collaboration

Stocks in this article: ANNNUF

MELBOURNE, Australia and TEL-AVIV, Israel, March 13, 2013 /PRNewswire/ --

Starpharma Holdings Ltd (ASX:SPL; OTCQX: SPHRY) and Makhteshim Agan Group today announced a collaboration program. This will see Starpharma's Priostar ® dendrimer technology applied to novel crop protection formulations across Makhteshim Agan's extensive product portfolio.

Makhteshim Agan is the world's leading manufacturer and distributor of branded off-patent crop and non-crop protection products, with 2012 global sales of US$2.83B. Makhteshim Agan serves farmers in 120 countries and operates in Australia as Farmoz.

The collaboration program leverages Makhteshim Agan's broad product portfolio and extensive formulation capabilities alongside Starpharma's Priostar ® dendrimer technology. The program includes the development of new formulations of a number of active ingredients, including three actives with total market sales for 2011, each exceeding $400m globally. Other terms of the agreement were not disclosed due to commercial confidentiality restrictions.

"Through this collaboration Starpharma has the opportunity to further extend the reach of its dendrimer technology in agrochemicals. This partnership which involves multiple products in major global markets represents an exciting and valuable commercial opportunity for our Priostar ® dendrimers," said Dr. Jackie Fairley, CEO Starpharma. "We look forward to working closely with Makhteshim Agan to produce exciting new crop protection products."

 "Makhteshim Agan strives to offer differentiated solutions to address growers' needs, based on innovation, quality and value," said Sami Shabtai, Head of Innovative Development at Makhteshim Agan. "We actively seek out exciting technologies that can complement our in-house capabilities and market understanding to deliver effective and simple crop protection solutions."

David Peters, Managing Director of Farmoz added "As Makhteshim Agan's Australian subsidiary, Farmoz looks forward to applying Starpharma's dendrimer technology to complement our effective and reliable Australian portfolio. Australia is an environment with unique challenges for agriculture and innovation is an important component in our strategy for providing the solutions today's Australian growers need."

The benefits of Starpharma's Priostar ® dendrimers to agrochemical companies and end-user growers can include:

  • Improved product efficacy;
  • More concentrated formulations to reduce supply chain costs and for greater ease of handling;
  • Reduction in solvent loading; and,
  • Improved bioavailability through increased adhesion, to reduce losses due to rain run-off, and the need for multiple applications.

In addition to the collaboration with Makhteshim Agan, Starpharma continues to advance the commercialisation of Priostar ® for crop protection applications through both its own internal research program and through valued partnerships with other crop protection companies.

Makhteshim Agan Industries Ltd. is a leading manufacturer and distributor worldwide of crop-protection solutions and the largest off-patent player in the industry.

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