Eden Research Signs Licence Deal With Sumi Agro France

Intellectual property developer Eden Research PLC recently announced that it has signed an exclusive 20-year licence deal with Sumi Agro France SAS to sell an Eden-developed plant protection product called 3AEY in France.

Under the deal Sumi Agro will also have the right to trial, register, develop and sell some other plant protection products in France using Eden's natural encapsulation technology GO-E Inside.

Eden will receive an upfront payment followed by milestone payments on the product's approval in the EU, expected in spring 2015, and sales targets. It will also receive ongoing royalty payments on the product.

"Beyond this agreement and 3AEY, we look forward to developing other product opportunities with Sumi Agro France as well as with affiliated Sumitomo Corp companies," said Chief Executive Sean Smith in a statement.