Information  X 
Enter a valid email address

XL TechGroup, Inc. (XLT)

  Print   

Wednesday 06 December, 2006

XL TechGroup, Inc.

TyraTech Kraft agreement

XL TechGroup, Inc.
06 December 2006


Press Release                                                    6 December 2006



                               XL TechGroup, Inc.



                       ('XL TechGroup' or 'the Company')



     XL TechGroup company, TyraTech, signs exclusive global agreement with

                               Kraft Foods, Inc.



XL TechGroup (AIM: XLT), the systematic architect and builder of an ongoing
stream of high value new companies, announces that its portfolio company,
TyraTech LLC ('TyraTech'), the developer of an entirely new class of natural,
safe and effective insecticides and parasiticides, has signed an exclusive
co-development agreement with Kraft Foods Inc. ('Kraft', NYSE:KFT) , for
development of compounds used in functional foods and beverages intended to help
prevent human parasitic infection in the developing world.



Under the terms of the agreement, TyraTech will receive an upfront exclusivity
fee in addition to payments for each milestone successfully completed at
designated stages of the long-term project.  TyraTech will also receive
royalties based on product sale revenues when new products are launched into key
markets.



The agreement gives Kraft, a global leader in branded foods and beverages,
rights to TyraTech's innovative technology platform, allowing the rapid
development of new formulations initially targeted at human parasites which
afflict more than 2 billion people worldwide according to the World Health
Organization.



While there are a range of treatments currently in use that are effective in
killing some parasites, none can be used regularly to prevent future infection.
As a result, some people become re-infected shortly after treatment, and the
cycle of infection continues unabated.  By contrast, TryaTech's novel screening
platform has the potential to identify combinations of natural ingredients that
are highly effective and safe such that they can be used on an on-going basis to
stop the cycle of re-infection.



Considering the wide-scale incidence of parasitic infection in people around the
world, the need for a functional food to combat parasites on an ongoing basis is
an entirely new market with significant potential.  Once commercialized, these
foods will offer a unique and affordable solution that can easily fit into
consumers' normal lifestyle habits.



Lance Friedmann, Sr. Vice President, Health & Wellness and Sustainability, Kraft
Foods, said: 'Functional foods are a fast-growing area of interest.  Our
investment in this technology, combined with our expertise in formulating and
marketing affordable, good tasting foods, has the potential to allow us to
further expand our presence in developing markets, by delivering meaningful
benefits to consumers in those countries.  This agreement is just one example of
Kraft's commitment to build our brands worldwide and to helping people live
healthier lives.'



John Scott, CEO of XL TechGroup, said: 'This agreement, with one of the
pre-eminent worldwide consumer products companies, provides a tremendous
opportunity.  The business and humanitarian opportunities are significant, and
represent an important expansion of the TyraTech platform into a large market
with a massive unmet need.  This latest agreement, taken in the context of
TyraTech's significant progress within the insecticide space, offers substantial
continued endorsement of our market-changing, disruptive technologies.'



                                    - Ends -



For further information:
XL TechGroup Inc.
John Scott / Harold Gubnitsky                                                           Tel: +1 321 409 7403
[email protected]                                                                      www.xltechgroup.com
Chris Munden, Director of Investor Relations                                       Tel: +44 (0) 20 7398 7720
[email protected]



XL TechGroup media enquiries:
Abchurch Communications
Heather Salmond / Gareth Mead                                                      Tel: +44 (0) 20 7398 7700
[email protected]                                                    www.abchurch-group.com



Kraft Foods media enquiries:
Sarah Delea                                                                        Tel: +44 (0) 20 8580 2413
[email protected]                                                                         www.kraft.com



NOTES TO EDITORS



About XL TechGroup

XL TechGroup is in the business of significant value creation.  Working with
major international corporate and technology partners such as AES, Procter &
Gamble and leading universities, XL TechGroup first identifies global unmet
market needs and then targets and exploits these by the systematic creation of
successful, disruptive technology businesses.  These are built from scratch, and
are then funded and developed by XL TechGroup through to the point of a trade
sale or a stock market listing.



XL TechGroup's unique and proven methodology selects the best opportunities in
order to create one-to-two new companies annually, where each company is
expected to achieve a valuation of at least US$400 million within four years
from its creation.  While an XL TechGroup company might perform a stock market
listing at an earlier point in this four year timeframe, XL TechGroup would
retain its controlling interest and would continue to assist with the company's
development.



XL TechGroup's companies to date are: AgCert International plc (www.agcert.com),
TyraTech LLC (www.tyratech.com), DxTech LLC (www.dxtech.com) and PetroAlgae LLC.



XL TechGroup has also established GenXL LLC as a joint venture to capture the
value of those prospects that do not quite meet the US$400 million, four year
criteria but still demonstrate considerable potential worth.  Over and above XL
TechGroup's core business model, GenXL will review a significant flow of
opportunities from both XL TechGroup and GEN3 in order to generate new
companies, standalone product lines and technology licensing opportunities or an
appropriate mix of these.



For further information, see www.xltechgroup.com



About TyraTech LLC

TyraTech LLC, which was created by XL TechGroup in July 2004, is developing a
new class of highly effective, non-toxic pesticides and anti-parasitic compounds
using cloned insect and parasite chemoreceptors, designed to identify highly
effective formulae that utilise approved, safe, natural oils.  Its development
is progressing rapidly, particularly in human healthcare applications.
TyraTech, which is 64.8% 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 proprietary
formulations in relation to natural insecticide and personal care products.
www.tyratech.com



About Kraft Foods Inc.

Kraft Foods (NYSE:KFT) is one of the world's largest food and beverage
companies.  For more than 100 years, we've helped people around the world eat
and live better.  Millions of times a day, in more than 150 countries, consumers
reach for their favorite Kraft brands including Kraft cheeses, dinners and
dressings, Jacobs, Gevalia and Maxwell House coffees, Oscar Mayer meats, Nabisco
brand Oreo cookies and Ritz crackers and chips, Philadelphia cream cheese,
Planters snack nuts, Post Honey Bunches of Oats cereals, and Crystal Light and
Tang refreshment beverages.  Consumers continue to expand their list of Kraft
favorites by adding our Tassimo hot beverage system, South Beach Diet product
line, and a growing range of better-for-you Sensible Solution products to their
shopping baskets.




                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                   

a d v e r t i s e m e n t