Ecogen Inc. announced Monday the signing of a long-termdistribution agreement with Australia-based Incitec Ltd.
The agreement follows from Ecogen's previously announcedpurchase of the majority interest in FRM Agricultural SciencesPartnership (FASP), an Israeli partnership from FirstMississippi Corp.
The conditions of the acquisition called for the restructuringof an R&D agreement between FASP and Incitec. Under theoriginal agreement, Incitec was to develop a microbe tocontrol powdery mildew. That product will now be developedby Langhorne, Pa.-based Ecogen. Ecogen will also develop amicrobial nematocide.
Ecogen will have exclusive marketing rights to the products inEurope, North and South America, Japan and parts of Asia.Incitec will have exclusive marketing rights in Australia, NewZealand, Africa and parts of Asia.
Ecogen will grant Incitec exclusive rights to market inIncitec's territories Ecogen's Dagger G biofungicide to controlsoil-borne diseases, a Bacillus thuringiensis insecticide tocontrol Heliothis in cotton, and Neozygites floridana fungus formite control.
Ecogen stock (NASDAQ:EECN) on Monday closed down 25 centsat $12.50. Incitec is a subsidiary of ICI plc of the UnitedKingdom.
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