AIM News: Byotrol in joint development deal

Shares in Manchester-based Byotrol rose nearly 7% after the bug-busting technology firm announced a nine-month joint development deal with an unnamed US company to make a range of products for consumer markets in the world.

Under the conditions of the deal, the US firm will be entitled to exclusivity in some markets and product formats, while Byotrol Consumer Products - a subsidiary of Byotrol - will get £300,000-£600,000 in upfront, milestone-based payments for product development.

Byotrol is an AIM-listed company, whose bug-busting technology is used in sprays, wipes, mousses and other consumer products.

Gary Millar, chief executive of Byotrol, said: "This contract is a landmark deal for the business both in terms of its commercial potential and the collaborative nature of the joint development agreement.

"Our strategy recognises that the full potential for Byotrol will be best achieved by working closely in partnership with leading companies and this agreement is an important step towards bringing Byotrol to consumers globally.

"Our partners in this have made a significant commitment of capital, management time and resources in developing Byotrol-based products under their brand label. This demonstrates considerable faith in Byotrol and its technology by a successful multinational corporation and is a further endorsement of the potential for Byotrol."