Starpharma signs new agrochemical tie-up

Starpharma (ASX:SPL) has formed a new agrochemical collaboration covering its dendrimer nanotechnology platform.

The company has teamed up with Makhteshim Agan, a major manufacturer and distributor of off-patent agrochemical products, to explore applying the former’s dendrimer technology to the latter’s crop protection formulations.

The collaboration will examine the use of Starpharma’s Priostar dendrimer technology to a range of active ingredients within Makhteshim Agan’s products.

Starpharma said the program includes three ingredients with global market sales in 2011 of $400 million apiece. The commercial terms of the agreement were not disclosed.

The Priostar platform aims to improve agrochemicals by allowing more concentrated formulations that provide increased adhesion to surfaces and enhanced overall activity.

Starpharma’s deal with Makhteshim Agan is the second agrochemical development partnership it has entered into in the past financial year. In August, the company agreed to work with Nufarm (ASX:NUF) on crop protection formulations.

The company is also developing agrochemical programs in-house, including its lead program dendrimer-glyphosate, a reformulation of popular herbicide glyphosate.

Starpharma is also using its dendrimer platform technology for pharmaceutical programs, including VivaGel, a topical treatment in phase III trials for bacterial vaginosis.

Makhteshim Agan has customers in 120 countries. In Australia, it operates as Farmoz.

Starpharma (ASX:SPL) shares were trading 0.6% higher at $1.177 as of around 1:30 pm on Wednesday.