Landec Corporation has entered into an exclusive licensing and
R&D collaboration with Belgium-based UCB, S.A., a specialty
chemical and pharmaceutical company. The license
fees, R&D payments and pre-paid royalties total $2.5 million
for exclusive rights to use Landec’s Intelimer materials technology
in the selective fields of powder coatings. The success
of the R&D collaboration led to this expanded agreement.
“Completion of this agreement is the culmination of efforts
by both parties to move Landec’s proprietary materials from
laboratory to commercialization in selective fields,” said
Gary Steele, Landec Corporation’s president and CEO. “We
are impressed with UCB’s commitment to develop new products
utilizing the key properties of Landec’s Intelimer materials.
We recognize UCB’s leading global position as a supplier
to the powder coating and radiation cure coatings markets
and as an emerging leader in the adhesives field.”