Frontier IP Group Plc (LON:FIPP) announced that portfolio company Tarsis Technology, a spin-out from the University of Cambridge, has entered into a collaboration agreement with one of the world's leading manufacturers of crop-protection products.
The AIM-listed firm which specialises in commercialising university intellectual property, said the collaboration will research the use of Tarsis' patent-pending technology to deliver chemical pesticides and fungicides in a more precise and controlled way.
READ: Frontier IP portfolio company Pulsiv Solar receives grant to develop solar power tech
It said the crop protection company will fund the entire research programme in return for exclusive rights to Tarsis' intellectual property for a defined set of agrochemicals.
Tarsis will be paid a royalty fee for any commercially viable products that result, Frontier IP added.
Separately, Frontier IP said it has agreed to lend up to £150,000 to Tarsis to meet working capital requirements in return for equity options.
Frontier IP’s chief executive Neil Crabb said: "We aim to bring industry and university spin-outs together at a very early stage in the commercialisation process. In that way, we ensure new technologies meet real-world demands and needs.
“This agreement is yet another sign our approach is beginning to pay off."