LONDON (ShareCast) - Intellectual property developer Eden Research confirmed it has signed an exclusive licence agreement with Sumi Agro France.
Under the deal, Sumi will assume control of 3AEY, an Eden-developed plant protection product in France, and will be entitled to trial, register, develop and sell other plant protection products to be used in the country.

"Ensuring that we have the right partner which is able to fully exploit the opportunities for effective products such as 3AEY in this market is critical," said group chief executive Sean Smith.

"We strongly believe that Sumi Agro France is that partner and expect that Eden will benefit greatly from the weight that their name and expertise carries in France."

The licence lasts for 20 years and covers the use of 3AEY in a number of agricultural applications and the technology will be used to fight Botrytis, a fungus that affects many plants and is a major concern across Europe.

"This agreement expresses our Sumi Agro commitment to invest in modern crop protection solutions based on conventional as well as BioControl tools," said Antoine Meye, president of Sumi Agro.

Eden Research shares were up 3.56% to 11.65p at 09:05 on Monday.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE