News

New Product Development Milestone achieved as TyraTech delivers new products to Terminix
21 February 2011

Three New Innovative Products Provide Additions to Existing Product Line

TyraTech, Inc. (AIM: TYR), a leader in the field of novel pesticide and parasiticide innovation for human, animal and environmental health, is pleased to announce that it has achieved a product development milestone with the delivery of three new innovative products to Terminix International ("Terminix"), the largest professional pest control company in the world.

Highlights

• TyraTech has delivered three new innovative insect control products to Terminix
• In accordance with the Supply Agreement signed with Terminix in October 2010, TyraTech will receive development milestone payments for delivering these new products.
• The new products, part of a growing pipeline of innovative products, will expand the existing product line and enable Terminix to continue marketing and branding the TyraTech insecticide product lines in the US, Canada and Mexico.

Following the new Supply Agreement signed with Terminix in October 2010, Terminix and TyraTech have continued to work together to develop and market new and effective pest control products incorporating TyraTech's Nature's Technology™. The new products feature TyraTech's proprietary aerosol platform, providing highly effective control of crawling, flying, and stinging insects.

These newly developed products are part of a growing pipeline of innovative products that will give Terminix the ability to increase its offering of insect control solutions. The new products will be launched under the Terminix brand. The products will be based on insect control that is effective and safe for people and pets when used as directed. The products should enable Terminix to go to market with differentiating services and products.

Commenting on the announcement, Alan Reade, Executive Chairman, said: "The delivery of these new products is an important milestone for both Terminix and TyraTech. For Terminix it represents new opportunities to offer innovative, effective and safe solutions to their customers. For TyraTech, it further demonstrates our proven ability to deliver new products and opportunities."

Also commenting on the Agreement, Thomas G. Brackett, Terminix President and Chief Operating Officer, said: "We've been very pleased with the success of our partnership with TyraTech. They've delivered innovative products that fit our requirements of being not only effective, but safe for people, pets and the environment. The addition of these three new products will expand our product line to help us reach new groups of customers."

 

 For further information please contact:

TyraTech Inc.

Alan Reade, Executive Chairman www.tyratech.com	+1 321 409 7731
Brewin Dolphin Matt Davis/Iain Marlow www.brewincorporate.co.uk	0845 213 4730 +44 (0)113 241 0138

 

About TyraTech

TyraTech was formed in 2004 to develop and commercialise products for the control of invertebrate pests and pathogens using the Company's proprietary technology. TyraTech, which already has products on the market, is positioned for human health, animal health and pesticide market opportunities which total over $32 billion globally. TyraTech's technology provides the Company with a wide variety of product and business opportunities in many markets and geographic regions. The differentiating feature of these products is the potential to have a combined level of potency and safety that other invertebrate control products are unable to offer. TyraTech's platform brings many of the principles of drug discovery and development to the fields of insecticides and parasiticides. By targeting specific chemoreceptors that are found in invertebrates but not in humans and animals, TyraTech can produce products that use natural plant derived compounds targeting these receptors.

TyraTech discovers and develops proprietary active ingredients which can then be used for various products across a wide variety of market segments, either by development partners or by TyraTech itself. TyraTech already has products or partnerships in the areas of professional and horticultural insect control, and for an insect/mosquito repellent. TyraTech also has an innovative partnership with Kraft to use its natural oils to develop functional foods for improving the health of the more than 2 billion people worldwide subject to intestinal parasitic infections.

About Terminix

Terminix, a division of The ServiceMaster Company, is an industry leader in termite and pest control services. Headquartered in Memphis, Tenn., Terminix employs 8,000 associates across 450 service centers and serves more than 2.8 million customers in 45 states. Terminix provides pest control services and protection against termites, rodents and other pests that threaten human health and/or safety.. To learn more about Terminix, visit their Web site at www.terminix.com or call 1-800-TERMINIX.

With a network of more than 5,100 company-owned and franchise locations, Memphis-based ServiceMaster is one of the world's largest residential and commercial service networks. The company's high profile brands are TruGreen, TruGreen LandCare, Terminix, American Home Shield, ServiceMaster Clean, Merry Maids, Furniture Medic and AmeriSpec. Through approximately 27,000 corporate employees and a franchise network that independently employs over 31,000 additional people, the ServiceMaster family of brands serves more than 8.5 million customers every year and hold market-leading positions in residential and commercial lawn care and landscape maintenance, termite and pest control, home service contracts, furniture repair, home inspections, residential and commercial cleaning and disaster restoration. More information about ServiceMaster can be found at www.servicemaster.com.

 

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