Syngenta AG decides not to pursue its Right of First Refusal for Innovotech's seed treatment product, Agress
Edmonton, Alberta, Canada
February 1, 2012
Innovotech Inc. (TSX VENTURE:IOT), a pioneer in the field of biofilm product development, today announced that Syngenta AG has decided not to pursue its Right of First Refusal for Innovotech's seed treatment product, Agress®.
"Agress continues to show excellent results in recently completed field trials that expand its potential uses to high-value added crops such as fruits, vegetables and pulses," said Ken Boutilier, President and CEO of Innovotech. "While we are disappointed with this decision, the fact remains that Agress has consistently shown that it is highly effective as a treatment for controlling seed-borne pathogens and as a plant spray. As such, we look forward to working with other industry participants who have expressed interest, as we continue to seek regulatory approval from the US Environmental Protection Agency."
Agress addresses some major problems in agricultural crop protection related to the use of the important antibiotic Streptomycin for the treatment of crop diseases. Firstly, Streptomycin is used in human health and its use in agriculture has been banned in many countries, including Canada. Furthermore, in many regions where Streptomycin is used to manage crop diseases, microbial resistance to the antibiotic is becoming increasingly prevalent, making it an ineffective disease management option in those regions. Agress has shown to be at least as effective as Streptomycin in preventing a number of bacterial diseases, without the environmental consequences.
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Published: February 1, 2012
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