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TyraTech Achieves Insecticide Development and Financial Milestones With Partner Arysta LifeScience
Date:1/10/2008

MELBOURNE, Fla., Jan. 10 /PRNewswire/ -- TyraTech Inc. (AIM: TYR), the pioneer of safer, effective and natural pesticide products, today announced it has achieved development and financial milestones from Arysta LifeScience Corporation ("Arysta"), as part of its 2006 exclusive global licensing and co-development agreement to manufacture and market a number of insecticide products for certain horticultural markets.

TyraTech is developing proprietary compounds that target receptors found on insects and other invertebrates, but are not found on humans or animals. These compounds -- called TyraTech Naturals -- are derived from plants and can kill insects with the potency of chemical pesticides, but without their toxicity. The partnership with Arysta is to develop new products based on the TyraTech compounds for the control of insects in certain horticultural markets. The partnership has different progressive development stages, which when they are successfully reached, result in milestone payments to TyraTech.

The two milestone payments above relate to achieving specific insecticide efficacy and cost targets for TyraTech Natural products in two of the licensed applications. Field testing for the lead product prototypes has been underway since late 2006, when an exclusivity payment was received.

Douglas Armstrong PhD, Chief Executive Officer of TyraTech said: "The global horticultural insecticide market includes fruits and vegetables as well as professional turf areas such as golf courses, where safer, more responsible insecticides are increasingly demanded by both the consumer as well as the regulatory agencies. TyraTech's technology is designed to meet this opportunity with active insecticides that have a strong combination of potency and safety, as well as providing a new solution to the increasing problem of insect resistance to traditional insecticides. With our partner Arysta, we can not only accelerate the development of products, but a
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SOURCE TyraTech Inc.
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