LONDON--Specialty chemicals business Revolymer PLC (REVO.LN) said Friday that its U.S. subsidiary, Itaconix Corporation, has signed a joint development agreement with Akzo Nobel Chemicals International B.V.

Revolymer said the agreement establishes a broad operating framework for the parties to jointly identify, develop and commercialize new polymers using Itaconix's patented technology.

Shares at 1201 GMT flat at 32 pence, valuing the company at GBP25.2 million.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

January 27, 2017 07:19 ET (12:19 GMT)

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