ECOGEN SIGNS LETTER OF UNDERSTANDING TO DISTRIBUTE PRODUCTS IN MALAYSIA, INDONESIA AND SINGAPORE
ECOGEN SIGNS LETTER OF UNDERSTANDING TO DISTRIBUTE PRODUCTS
IN MALAYSIA, INDONESIA AND SINGAPORE
LANGHORNE, Pa., Nov. 4 /PRNewswire/ -- Ecogen Inc. (NASDAQ: EECN) announced the signing last week of a letter of understanding for the marketing and distribution of Ecogen's Cutlass(R) Bt bioinsecticide, Condor(R) Bt bioinsecticide and Foil(R) Bt bioinsecticide products in Malaysia, Indonesia and Singapore through a group led by Lawrence Quah Gin Khoon of Malaysia. The letter of understanding also provides for a $7.0 million investment in Ecogen common stock. The understanding is subject, among other things, to governmental approval in Malaysia and the execution of definitive agreements.
Ecogen, Inc., is an agricultural biotechnology company specializing in biological pest control. Ecogen has developed and is marketing a number of novel and proprietary biopesticides, including Cutlass vegetable bioinsecticide, Foil Potato bioinsecticide, Condor forestry and soybean bioinsecticide, and Collego(R) rice bioherbicide. The company is also developing products for cotton, corn and home garden use.
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/CONTACT: John E. Davies, chairman and CEO of Ecogen, 215-757-1590; Anthony J. Russo or Karin Eskenazi of Noonan/Russo Communications, 212-979-9180, for Ecogen; or (investors) Don Weinberger of Strategic Growth International, 212-826-9622, for Ecogen/
(EECN) CO: Ecogen Inc. ST: Pennsylvania IN: MTC SU: SM-TS -- NY013R -- 0647 11/04/91 10:28 EST