News

XL's TyraTech in Kraft Foods deal

06 December 2006 08:25:00

XL TechGroup received a boost today after the company which commercialises technologies said insecticides and parasiticides business TyraTech has bagged a deal with Kraft Foods.

TyraTech, part of XL's portfolio, has developed a new class of natural, safe and effective insecticides and parasiticides.

As part of its exclusive co-development agreement with Kraft it will develop compounds used in functional foods and beverages intended to help prevent human parasitic infection in the developing world.

Under the terms of the deal, TyraTech will receive an upfront exclusivity fee in addition to payments for each milestone successfully completed at designated stages of the long-term project.

It will also receive royalties based on product sale revenues when new products are launched into key markets.

"TryaTech's novel screening platform has the potential to identify combinations of natural ingredients that are highly effective and safe such that they can be used on an on-going basis to stop the cycle of re-infection," said the group.

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