Member Article

Macclesfield-based Redag wins major R&D deal

Macclesfield-based Redag Crop Protection has signed a major R&D agreement with one of the top ten players in the agrochemical market, who cannot be named, to collaborate on the development of new pesticides.

Redag Crop Protection will give exclusive access to two of its areas of chemistry and will apply its methodology to create compounds with the potential to become new products.

In return, Redag will receive multiple six-figure payments.

Redag will enter into a development agreement with its partner for some of these compounds in exchange for multi-million milestone payments and royalties on sales.

CEO of Redag Crop Protection, Bill Thompson, said: “Following the fundraising in October 2014 we have established our chemistry team in Alderley Park, Cheshire and continued to develop our science.

“Having successfully demonstrated the technical proof of our approach to key companies in the industry, this first collaboration underlines that commercial value.

“Both parties to the agreement see this as a first step in a long-term relationship. It is a significant milestone in our progress and reinforces Redag’s position as the engine of discovery in the crop protection market.”

The deal comes less than nine months after Redag demerged from its parent company Redx Pharma and moved into new premises in Alderley Park.

This was posted in Bdaily's Members' News section by Sophia Taha .