News
TyraTech signs supply and distribution agreement for Mexico
18 April 2006
XL TechGroup, Inc. (AIM: XLT), the systematic architect and builder of an ongoing stream of high value new companies, announces that its company Tyratech LLC has signed an exclusive supply and distribution agreement with Mexican company Terra Quest SA de CV which has excellent relationships with key governmental and commercial partners in Mexico. They will represent TyraTech’s products for insect, vector and parasite control within Mexico.
The initial Mexico agreement is for five years and includes specific sales milestones. This agreement is designed to provide immediate access to local governmental and commercial opportunities. Terra Quest has made quick progress, already executing a successful test at one of the leading hospitals in Mexico, the Universitario De Nuevo Leon part of the Medicine Faculty of the “Autonomous University of Nuevo Leon” in Monterrey. This has produced a small initial order which TyraTech is confident will lead to larger follow-on orders.
In addition, a test of TyraTech’s mosquito larvacide with the Mexican Department of Health (Vectors Division) is scheduled for May 2006. This test is designed to determine how the technology can best be utilized to provide a safe alternative to current synthetic chemicals used to control mosquito populations in wide areas including lakes and ponds that are key breeding grounds for mosquitoes. These current chemical based solutions raise significant issues related to safety for aquatic life, impact on drinking water and general exposure of the Mexican population to insecticides that may cause negative health affects.
TyraTech has a unique biotechnology which has been applied to the creation of an entirely new class of natural insecticides that trials are demonstrating to be both safe and highly effective. The core technology, which utilises the successful reproduction of chemo receptors in a stable cell line to identify highly effective essential oil compounds, has a wide variety of applications in human health care (e.g., mosquito vector control, head lice, parasitic control etc.) as well as in institutions that serve health sensitive populations such as hospitals, schools and day care centres. The active ingredients are based on natural plant oils which are environmentally-friendly and designed to be entirely safe for both humans and animals.
Dr. Jaime Herrera Melendez, the Technical Secretary of the hospital in Monterrey said: “We strive for providing the best possible environment for our patients and staff. The success of the test of the TyraTech natural insecticide in our hospital opens up the opportunity to replace synthetic chemicals with a product we can all feel good about.”
Dr John Scott, CEO of XL TechGroup, said: “This agreement is an exciting development as it represents TyraTech’s initial entry point into the potentially very large markets for wide area mosquito and parasite control within developing countries. The approval of the test results by this leading hospital in Mexico has a high referral value given its status as a highly respected, significant research facility. We expect this initial agreement to be just the first in Central and South America, as well as in other countries such as Thailand where an initial letter of understanding has been agreed with a potential distributor.”
If you would like further information, please contact:
| TyraTech Inc. Alan Reade, Executive Chairman www.tyratech.com |
1 (321) 409 - 7720 |
XL TechGroup & TyraTech media inquiries:
| Abchurch Communications | |
| Heather Salmond / Chris Munden | Tel:+44 (0) 20 7398 7700 |
| heather.salmond@abchurch-group.com | www.abchurch-group.com |
NOTES TO EDITORS
About XL TechGroup
XL TechGroup identifies unmet market needs in the Biotech, Ecotech and Medtech sectors and then systematically creates and develops successful disruptive technology businesses to exploit these needs. The Company has developed a unique proven method to rapidly bring companies from inception to liquidity, matching unexploited IP from a group of corporate and technology partners to the identified unmet market need. XL TechGroup employs its own predictive algorithm to ensure the market will rapidly adopt the identified solution and then moves to scale the company specifically created to exploit the opportunity.
Before forming XL TechGroup, the management team created substantial value for shareholders over a twelve year period, successfully exiting six technology businesses at an average market valuation of approximately US$500 million.
The listing of the first company created under the XL TechGroup banner, AgCert International, continues to validate the systematic approach to value creation.
- AgCert International was created by XL TechGroup in May 2002 and is a global leader in the production and sale of agriculturally derived greenhouse gas emission reductions, with business in Europe, Asia, North America and South America. AgCert was listed on the London Stock Exchange in June 2005 and XL TechGroup maintains a 27.2% interest in AgCert. www.agcert.com
The second and third companies in the new generation of XL TechGroup businesses are:
- Tyratech LLC, which was created by XL TechGroup in July 2004, is developing a new class of insecticides utilizing all natural active ingredients. TyraTech is able to quickly evaluate natural ingredient combinations by utilizing a patent-pending high throughput chemoreceptor screening process that accurately predicts effectiveness levels. TyraTech’s development is progressing rapidly in both insecticidal and related human healthcare applications. TyraTech, which is 66.7% owned by XL TechGroup, is continuing discussions with companies in North America, Asia and Europe as well as numerous national public health programs about the licensing and distribution rights for its patent-pending formulations in relation to natural insecticide and personal care products. www.tyratech.com
- DxTech LLC was created by XL TechGroup in July 2005, and is developing a unique micro-fluidic platform that replaces essentially all biological tests currently performed at reference laboratories with a fully-automated, point-of-need device. This technology has applications in significantly lowering costs and increasing efficiency for major pharmaceutical companies in their clinical trials, the provision of diagnostics in developing countries and delivering a new revenue stream for doctors in the USA. DxTech is 88% owned by XL TechGroup. www.dxtech.com
XL TechGroup has a number of other opportunities already at an advanced stage in its business creation pipeline, and expects to create one-to-two new companies annually that can each achieve a liquidity event worth at least US$400 million within four years from inception.
For further information, see www.xltechgroup.com
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