News: February 2016
I-Tech gets large market recognition of the newly EU-approved agent Selektope ®
Following the approval of Selektope ® under the EU’s Biocidal Products Regulation, developer I- Tech reports extraordinary uptake for antifouling coatings that include the industry’s first pharmacological means of combatting barnacle settlement. In the first month of 2016, orders amounted to double the volume achieved during the whole of 2015, with antifoulings including Selektope being applied for complete hull coating projects.
I-Tech CEO Philip Chaabane says that the higher than anticipated demand from shipowners and acceptance by major coatings suppliers of performance claims for the biotechnology solution represent a decisive movement in the marine paints industry.
“We are very pleased to witness the market response to Selektope following recent achievements in securing major regulatory approval,” says Mr. Chaabane. “A key factor is the product’s ability to extend static performance of the coating, which is one of the major areas where improvements are needed. This is a good start. I am confident that uptake by the marine coatings industry will quickly bring Selektope’s other benefits into focus, contributing to an overall improvement in the performance of antifouling coatings.”
I-Tech has been able to meet the surge in demand through its agreement with life sciences giant Cambrex to produce Selektope on an industrial scale. “Venturing from academia into the industry of antifouling has been truly demanding, and we still have a long way to go. But we are stronger than ever and determined to see continued success,” concludes Philip Chaabane
Selektope® – further improving antifouling paints
Selektope introduces for the first time ever a pharmacological mode of action to combat barnacle settlement. By temporarily stimulating the octopamine receptor, the barnacle larvae’s swimming behaviour is activated and the organisms are deterred from the hull. These ground-breaking discoveries enable unrivalled power at very low concentrations, yet within the limits of rigorous risk assessments. Selektope is an organic, non-metal compound with efficacy proven at 0.1% w/w.
I-Tech is a Gothenburg based bio-tech company with global reach, holding all IP and regulatory rights to its all new antifouling agent Selektope (generic name, medetomidine).
The company is privately held and is supported by Swedish Energy Association, the European Innovation Initiative Eco-Innovation and FP7 SeaFront. The company is a member of the Astra Zeneca BioVentureHub.
Philip Chaabane, CEO, Philip.Chaabane@i-tech.se +46 (0) 73 910 37 08