Japan’s Sumitomo Chemical and Germany’s BASF have joined forces to develop a novel fungicidal compound discovered by the Japanese partner and said to demonstrate “high efficacy” in the control of major plant diseases, including those that have developed resistance to other available fungicides.

Terms and conditions of the agreement were not disclosed, but the two multinational  groups said they plan to leverage their in-house knowhow to separately develop unique formulations of the new compound and complement their respective portfolios.

Commercialization of the formulations is expected to begin following registration and regulatory approval from the relevant authorities. Registration submissions in major markets are planned starting in 2018 onward, with the fungicide products to be marketed worldwide.

The fungicide will be a new tool to secure yields in crops where fungicide options are limited, said Markus Heldt, president of BASF’s Crop Protection division. Heldt said the strategic cooperation between the two chemical giants demonstrates their commitment to investing in solutions to help farmers manage their business.

“Together with BASF, we will be able to provide more growers with the opportunity to experience the benefits of this new fungicide, which will play an important role in the resistance management of difficult to control plant diseases,” Ray Nishimoto, Sumitomo’s  president of Health & Crop Sciences, said at the agreement signing ceremony in Germany.