Valent BioSciences Corporation, Biomar Microbial Technologies Enter into Long-Term Strategic Alliance

  Valent BioSciences Corporation, Biomar Microbial Technologies Enter into
  Long-Term Strategic Alliance

Agreement expands terms of a Research Agreement executed in 2010

Business Wire

LIBERTYVILLE, Ill. -- February 4, 2014

Valent BioSciences Corporation (VBC) and Biomar Microbial Technologies have
announced the signing of a commercialization agreement under which the two
companies will collaborate on the development of unique biorational products
for the global agriculture, public health, and forestry markets.

VBC is the global leader in the discovery, development, manufacturing, and
commercialization of biorational products. Biorationals are products typically
derived from biological origins that are highly specific in their activity and
provide economic, health, and/or environmental benefits. These products
include microbial insecticides, fungicides and nematicides as well as plant
growth regulators used in seed treatment, production agriculture, postharvest
and management of stress in crops.

Biomar is a privately held company based in Leon, Spain, dedicated to the
discovery of microorganisms and their fermentation products for commercial
applications. Biomar owns a diverse, proprietary library of more than 66,000
microbial strains isolated from marine samples collected from around the
world.

Under the expanded collaboration, Biomar will source and screen novel leads
from its library while VBC provides global R&D, regulatory and
commercialization resources, leveraging its network of global distribution
partners. Priorities for the agreement are targeted at biofungicides,
bioinsecticides, and plant growth regulator products with an emphasis on
improved crop quality and productivity, plant health, and stress management.

“This agreement marks a significant investment for VBC, expanding our R&D
reach into Europe and another step forward as we continue to build out our
robust portfolio of biorational seed treatments, preharvest, and postharvest
products,” said Ted Melnik, Executive Vice President & Chief Operating Officer
of VBC. “Our work with Biomar to date has been on the cutting edge of R&D, and
has already produced several promising proprietary leads. We expect to move at
least two of these leads into product development this year and to develop
additional screening programs with Biomar based on unmet customer needs and
VBC’s strategic research targets.”

"This expanded agreement is a great opportunity to explore the full potential
of our collection of marine microorganisms as a source of biorational
products,” added Antonio Fernandez, Chief Executive Officer of Biomar. “We
believe that marine bacteria and fungi are an unparalleled source of chemical
diversity and biological activity, and our work with VBC has yielded an
optimized discovery protocol that has already provided some very promising
leads. We are very excited about the possibilities that this collaboration
brings to our company.”

The companies will jointly own intellectual property developed under the
agreement. Other terms were not disclosed.

This year, VBC will complete its construction of the world’s only dedicated,
state of the art biorational manufacturing facility in Osage, Iowa. The plant
will play a major role in bringing the new fermentation products developed
under this agreement to VBC’s global customers.

About Valent BioSciences Corporation

Headquartered in Libertyville, IL, Valent BioSciences is a subsidiary of
Tokyo-based Sumitomo Chemical Company. Valent BioSciences is the worldwide
leader in the development, manufacturing and commercialization of biorational
products, with sales in 95 countries around the world. Valent BioSciences is
an ISO 9001:2008 Certified Company. For additional information, visit the
company’s website at www.valentbiosciences.com.

About Biomar Microbial Technologies

Headquartered in Leon, Spain, Biomar Microbial Technologies is an independent
company specialized in marine biotechnology, with one of the world´s largest
collections of marine microorganisms. For additional information, visit the
company’s website at www.biomarmicrobialtechnologies.com.

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Contact:

Media Contact:
Rick Melnick
Valent BioSciences Corporation
847-968-4750
Email: rick.melnick@valentbiosciences.com
 
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