Devgen has signed a two-year extension of the research collaboration with Sumitomo Chemical Company Limited to develop novel insecticides. In the collaboration, Devgen selects and validates novel insecticidal targets, formats high throughput assays and uses its expertise in computational chemistry to deliver insect active leads, which Sumitomo further develops into marketed products. Under the terms of the agreement, Devgen receives research funding and is eligible for milestones and royalties.
"Starting from the selection of novel pest specific targets enables the development of insecticides that act through a different mechanism of action and that are more environmentally friendly, compared to products already on the market", said Devgen's CEO, Dr. Thierry Bogaert. "We are very pleased to continue to use our advanced technologies to contribute to Sumitomo's discovery and development of insecticidal compounds."