Starpharma and Makhteshim Agan in Priostar Agrochemical Collaboration
MELBOURNE, Australia and TEL-AVIV, Israel, March 13, 2013
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:
oImproved product efficacy;
oMore concentrated formulations to reduce supply chain costs and for
greater ease of handling;
oReduction in solvent loading; and,
oImproved 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 Company supplies efficient solutions to farmers that assist them in
combating disease and increasing yields. In 2012, the Company's revenues were
over $2.83 billion, and it is ranked seventh in the world in the overall
agro-chemicals industry. The Company is characterized by its know-how,
high-level technological-chemical abilities, expertise in product
registration, and observance of strict standards of environmental protection,
stringent quality control and global marketing and distribution channels.
Makhteshim Agan Group sells its crop protection products in over 120 countries
and together with its strategically located global manufacturing and
distribution facilities delivers simplicity in agriculture around the globe.
Starpharma Holdings Limited (ASX:SPL, OTCQX:SPHRY) is an ASX 300 company and
is a world leader in the development of dendrimer products for pharmaceutical,
life science and other applications.
Starpharma's underlying technology is built around dendrimers - a type of
synthetic nanoscale polymer that is highly regular in size and structure and
well suited to pharmaceutical and other uses. Starpharma has three core
development programs: VivaGel^® portfolio, drug delivery and agrochemicals
with the Company developing a number of products internally and others via
In Agrochemicals Starpharma has series of industry partnerships with leading
industry players including Nufarm (ASX:NUF) as well as with internal programs
including an enhanced version of glyphosate (the active ingredient in
Starpharma's lead pharmaceutical product is VivaGel^® (SPL7013 Gel), a
gel-based formulation of a proprietary dendrimer. VivaGel^® is under clinical
development for the treatment and prevention of bacterial vaginosis (BV).
Starpharma has also signed separate licence agreements with Ansell Limited
(ASX:ANN) and Okamoto Industries Inc (Tokyo Stock Exchange) to market a
value-added, VivaGel^®-coated condom.
In the wider pharmaceutical fields, Starpharma has both partnered and internal
programs in Drug Delivery. Drug Delivery partners include GSK, Lilly and
Forward Looking Statements
This document contains certain forward-looking statements, relating to
Starpharma's business, which can be identified by the use of forward-looking
terminology such as "promising", "plans", "anticipated", "will", "project",
"believe", "forecast", "expected", "estimated", "targeting", "aiming", "set
to", "potential", "seeking to", "goal", "could provide", "intends", "is being
developed", "could be", "on track", or similar expressions, or by express or
implied discussions regarding potential filings or marketing approvals, or
potential future sales of product candidates. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors that may
cause actual results to be materially different from any future results,
performance or achievements expressed or implied by such statements. There can
be no assurance that any existing or future regulatory filings will satisfy
the FDA's and other health authorities' requirements regarding any one or more
product candidates nor can there be any assurance that such product candidates
will be approved by any health authorities for sale in any market or that they
will reach any particular level of sales. In particular, management's
expectations regarding the approval and commercialization of the product
candidates could be affected by, among other things, unexpected clinical trial
results, including additional analysis of existing clinical data, and new
clinical data; unexpected regulatory actions or delays, or government
regulation generally; our ability to obtain or maintain patent or other
proprietary intellectual property protection; competition in general;
government, industry, and general public pricing pressures; and additional
factors that involve significant risks and uncertainties about our products,
product candidates, financial results and business prospects. Should one or
more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated or expected. Starpharma
is providing this information as of the date of this document and does not
assume any obligation to update any forward-looking statements contained in
this document as a result of new information, future events or developments or
Dr Jackie Fairley, Chief Executive Officer
Ben Rogers, Company Secretary
Makhteshim Agan Group:
SVP Global Corporate Communication
General Manager - Marketing
SOURCE Makhteshim Agan Industries Ltd
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