25 January 2017
Itaconix plc (“Itaconix”)
Itaconix enters into a license and assignment agreement with tremco-illbruck Limited for use of
non-core polymers in construction sealants
Itaconix is pleased to announce it has licensed certain non-core polymer assets developed under a joint development agreement to tremco illbruck Limited (tremco illbruck), an RPM International Inc. company.
Under the terms of the deal, tremco-illbruck will acquire the rights to certain Itaconix polymer technology to improve the performance of its construction sealant products. As consideration for the license and assignment, tremco-illbruck will make royalty payments to Itaconix on net sales of derived products incorporating Itaconix technology.
Dr. Kevin Matthews, CEO of Itaconix, commented: “tremco-illbruck has indicated that it expects to launch products containing Itaconix’s technology within 12 months and we anticipate receiving a modest income in 2018.”
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