Valent BioSciences, Lidochem in Technology Pact
Valent BioSciences (VBC) and Lidochem have signed a global licensing agreement for a novel, patented biocontrol technology for use in corn, soybean, and other crops.
Based on a “unique strain” of the beneficial soil microorganism Bacillus amyloliquefaciens, the technology will be developed by VBC in collaboration with Valent USA Corporation.
The two US companies based at Libertyville, Illinois, and Walnut Creek, California, respectively, are wholly-owned subsidiaries of Japan’s Sumitomo Chemical, a specialist in conventional plant protection and biorational technologies for agriculture.
The end-product will be marketed initially on the US market by Valent USA as a biological nematode seed treatment. Registration by the US Environmental Protection Agency (EPA) is expected this year, the companies said.
In future, VBC plans to focus on new formulations and expansions of the technology into other applications, crops, and regions.
“This agreement brings another important and innovative biorational technology to our growing platform for soil-based innovation,” said Ted Melnik, executive vice president and chief operating officer of VBC. “The unique mode of action of the product brings growers a potent and valuable tool in their battle against soilborne pests,” he added.
Don Pucillo, CEO of Hazlet, New Jersey-based LidoChem, said the agreement with VBC delivers on a key performance goal for the product.