MELBOURNE, Australia--(BUSINESS WIRE)--Starpharma Holdings Ltd (ASX:SPL)(OTCQX:SPHRY) today announced the allowance of a patent by the US Patent Office for a Priostar® glyphosate formulation. The patent’s term is expected to be to 2030 providing an extension over existing granted Priostar® patents. Additional term may also be available in relation to patent office delay and regulatory approval.
This patent adds further value to the Priostar® patent portfolio which comprises granted patents in key markets, including in the US, Europe, and China. This patent will extend the value of the Priostar® glyphosate product opportunity for both Starpharma and its partners.
Priostar®-enhanced glyphosate formulations have been shown to deliver improved weed control capabilities compared to standard marketed formulations of glyphosate, particularly in hard to kill weeds. The enhanced formulations have also shown faster knock-down of weeds.
Glyphosate (the active ingredient in Roundup®) is the world’s most widely used herbicide with 2014 global market sales of US$5.7B(1) and is expected to grow to US$8.8B by 2019(2). In the United States, glyphosate is the leading herbicide for the control of weeds on maize, soybean and cotton crops, making it one of the most widely used herbicides. It is also used in agriculture and forestry, on lawns and gardens, and for weeds in industrial areas.
Starpharma has Priostar® partnerships with a number of global partners to enhance agricultural formulations, including with Adama for a Priostar® improved 2,4-D formulation for the US market.
Starpharma Chief Executive, Dr Jackie Fairley, commented: “This development for our glyphosate Priostar® patent portfolio is a valuable commercial achievement and confirmation of the innovation that Priostar® brings to crop protection products. We continue to work in partnership with leading agrochemical companies across the globe to develop innovative, proprietary Priostar® formulations that improve product performance and deliver benefits to farmers.”
(1) Phillips McDougall Industry Overview 2015.
(2) Transparency Market Research 2014.
About Starpharma
Starpharma Holdings Limited, located in Melbourne Australia, is an ASX 300 company and is a world leader in the development of dendrimer products for pharmaceutical, life science and other applications.
For more information please visit: www.starpharma.com