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LONDON (Alliance News) - Eden Research PLC said Friday it has extended its licence agreement with TerpeneTech Ltd which will allow TerpeneTech to launch additional products using Eden's patented encapsulation technology.
TerpeneTech launched the first two products using the technology in April - two pet odour neutralising products in France.
Under the new agreement TerpeneTech will be able to launch additional products using the technology for ant, mite and insect control, as well as consumer products for outdoor insect control, odour neutralisation and carpet bugs.
Eden receives ongoing royalties from the sales of TerpeneTech's products.
"This is an important step for the business as we work with our partners to launch a portfolio of products that will provide an on-going stream of royalty revenues for Eden," said Managing Director Clive Newitt in a statement.
No financial details were disclosed.
Shares in Eden Research were trading up 1.7% at 7.50 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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