Nanologica has renewed the agreement with the crop protection company that during the year has performed field studies based on Nanologica’s formulation of an active ingredient for crop protection. The purpose of the new agreement is to further optimize this formulation, as well as formulating other active ingredients. The value of the agreement amounts to approx. TSEK 948 (€ 90 000) distributed over the first half of 2020.
In September 2017 Nanologica entered into an agreement with a global crop protection company, with the purpose of improving the formulation of an active ingredient. The agreement expired at the end of 2018, after which the crop protection company performed field studies (comparable to clinical studies for pharmaceuticals) during 2019. The field studies have partly shown good results and will be completed before final conclusions may be drawn.
The new agreement states that Nanologica shall further optimize the formulation for the active ingredient the field studies were performed on. Moreover, Nanologica will formulate other active ingredients the crop protection company is working with.
“We are delighted to continue this collaboration within crop protection. Using similar strategies to those used in formulation of pharmaceutical products, it is possible to dramatically reduce waste and environmental pollution. Agrochemicals are produced at large scale and the performance of the product is highly dependent on a good formulation. We see great potential in this technology and are able to provide the technology at industrial scale”, says Andreas Bhagwani, CEO of Nanologica.
The project aims to improve the formulation of active ingredients for crop protection for a better controlled release. This type of products has challenges that may be solved through technical approaches similar to the pharmaceutical applications Nanologica is already working on using the technology platform NLAB Silica™. The project benefits Nanologica’s work within pharmaceutical formulations, at the same time as new applications requiring innovative solutions leads to an expanded technology platform with further areas of use.
The agreement term stretches over the first half of 2020. After successful completion of the research and development project, a clear plan for commercialization of potential products, including milestone payment and royalties, is in place.
For further information, please contact:
Johanna Johansson, IR Nanologica
Ph: +46 72 211 21 90 or e-mail: johanna.johansson@nanologica.com
About Nanologica AB (publ)
Nanologica was founded in 2004 and is a nanotechnology company developing nanoporous silica particles for applications within life science. Nanologica is world-leading in controlling the shape, size and type of porosity of silica particles. This knowledge is applied within drug delivery and chromatography (a separation technique used in drug development and drug production). The company’s mission is to contribute to better and cheaper treatments for patients worldwide through the technology platform NLAB Silica™. Nanologica’s stock (NICA) is listed on Spotlight Stock Market. For further information, please visit www.nanologica.com.