US Patent and Option Agreemen
21 December 2009
Byotrol plc
New patent and option agreement
The Board of Byotrol plc ('Byotrol' or the 'Company') is pleased to announce some positive developments.
A United States patent has now been accepted for the Company's antimicrobial technology with the US Patent Office sending a Letter of Allowance for patent application number 10/039677. This application, which commenced in 2002, provides patent protection until 2022 in one of our major markets.
The Board is also pleased to announce that, together with its joint venture partner Byotrol Consumer Products Limited ("BCP"), the company has entered into a six month option agreement, which is extendable by three months, with a Fortune 150 corporation with broad international operations. This agreement is for exclusive rights to enter into negotiations for a licensing arrangement for Byotrol's patented technology.
The principal terms of the agreement cover Byotrol's technology in the fields of pre-saturated wipes and of liquids for certain surface care markets and specifically excludes all currently contracted areas of business. The counterparty has agreed to pay Byotrol and BCP jointly a non refundable sum of US$250,000 as consideration for the option, with additional sums being payable if the option extends beyond six months.
Commenting on the developments, David McRobbie, Chief Executive of Byotrol said:
"The USA is the world's largest market for technologies such as ours and having a granted US patent as well as several ongoing applications both there and in the rest of the world is an important platform for our licensing model.
"Further, we are pleased that multinational consumer companies are now increasing their interest in the Byotrol technology. At this very early stage there is no guarantee that this particular agreement will lead to any formal supply agreements, but it is an important step forward for the Company."
Enquiries:
David McRobbie, Chief Executive 0161 277 9518
Stephen Falder, Deputy Chairman
Richard Bell, Finance Director
Philip Davies / Carl Holmes 020 7149 6000
Charles Stanley Securities
Nominated Adviser
Tom Cooper / Paul Vann 020 3043 4162
Winningtons 0797 122 1972
Notes to Editors
Byotrol Plc (BYOT.L), quoted on AIM, is a leading microbial technology hygiene company, operating globally in the Health, Food, Leisure, Consumer, Industrial and Agriculture sectors, providing a low toxicity product with a broad-based and long lasting efficacy across all microbial classes; bacteria, viruses, fungi, moulds, microbacteria and algae.
The Byotrol product can be used as a stand alone product or as a complementary biocide additive to existing products to improve their performance in personal hygiene, domestic and industrial disinfection, odour control, food production and food management.
Founded in 2005, the Company has prioritised the development of a technology that creates easier, safer and cleaner lives through partnering with providers of essential goods and services. Byotrol is the catalyst behind the aptly named global 'Hygiene Revolution'.
For more information, please go to www.byotrol.co.uk
This information is provided by RNS
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