The Makhteshim Agan Group (MAI) and the Isagro Company announced they have reached an agreement for the exclusive license of the active ingredient kiralaxyl for seed dressing applications globally.
According to the agreement, MAI will have the rights to register, develop and market mixtures and formulations based on kiralaxyl for the seed dressing market. Isagro will continue to manufacture and hold registrations for the active ingredient of kiralaxyl.
Furthermore, the agreement allows for development and registration of products to better address customer needs in the segment of seed dressing, predominantly in North America.
Financial terms of the agreement were not disclosed.
"We are pleased to add an attractive active ingredient such as kiralaxyl to our portfolio, a molecule that complements our product offering for seed dressing applications. The agreement is consistent with our strategy of expanding and enhancing our product offering and is especially complementary to our proposition in the Americas region. By joining forces with a reputed player, such as Isagro, we can advance our ability to create and deliver simple, effective and unique solution to farmers globally" commented Efrat Segal, Head of Global Seed Dressing Sector at MAI.
Massimo Scaglia, Isagro's Business Development Corporate Director said "we are happy for the opportunity to partner with MAI and confident that the agreement will allow us to further develop Kiralaxyl globally on a market segment where Isagro is not present yet. As importantly, by licensing marketing rights to other players in our industry we are able to focus our resources more effectively. We continue to place an emphasis on selective research and market opportunities to generate further growth.
Kiralaxyl is a systemic fungicide with protective and curative action. The molecule is mostly used as a foliar fungicide in grapes, potato and vegetables and sold in mixtures. The use for the seed dressing applications will be focused on various field crops.