25 January 2018
Itaconix plc ("Itaconix")
Itaconix enters into a licence and assignment agreement with tremco-illbruck Limited for use of non-core polymers in construction sealants
Itaconix is pleased to announce it has licensed certain non-core polymer assets developed under a joint development agreement to tremco illbruck Limited (tremco illbruck), an RPM International Inc. company.
Under the terms of the deal, tremco-illbruck will acquire the rights to certain Itaconix polymer technology to improve the performance of its construction sealant products. As consideration for the licence and assignment, tremco-illbruck will make royalty payments to Itaconix on net sales of derived products incorporating Itaconix technology.
Dr. Kevin Matthews, CEO of Itaconix, commented: "tremco-illbruck has indicated that it expects to launch products containing Itaconix's technology within 12 months and we anticipate receiving a modest income in 2018."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).
For further information please contact:
Itaconix plc +44 (0) 1244 283 500
Kevin Matthews / Rob Cridland
N+1 Singer +44 (0) 207 496 3000
Richard Lindley / Liz Yong
Charlie Jack / Emily Dillon +44 (0) 207 796 4133
Itaconix is developing proprietary ingredients that meet the performance and price needs of its customers and offers them improved safety and sustainability, thereby helping to deliver on the global sustainability agenda, with particular emphasis on the Personal Care and Homecare markets.
This information is provided by RNS