Bio-Gene Technology (ASX:BGT), an agtech company developing and commercialising the next generation of novel insecticides derived from nature, reports strong progress against strategic priorities in the company’s Q3 FY24 activities report.
Managing Director & CEO Tim Grogan said the progress aligned with the company’s strategic priorities, including filing the company’s proprietary technology Flavocide® regulatory dossier with the Australian regulator currently planned for Q4 CY25.
Grogan said the company is seeing “increasing commercial interest in Bio-Gene’s naturally derived products due to consumer and regulatory changes in the external environment and the commercial pressures being placed on developers and marketers of insecticidal products internationally to move to products that have a more ‘balanced’ efficacy and safety profile.”
“Our engagement with commercial partners Clarke and Evergreen, along with growing interest from other commercial partners, continues to create demand for Bio-Gene’s products, including standalone and combination products.
“Qcide product testing and registration-related activities remain on-track in collaboration with STK Bio-Ag Technologies, and we remain focused on optimising Qcide® production with tree improvements and processing efficiency which allows us to scale-up tree production area and oil extraction.”
During the quarter the company progressed formulation development activities aligned with the specific use patterns of the company’s product pipeline in crop protection, public health and consumer applications.
“The diverse range of applications and target markets for Flavocide and Qcide are important factors supporting the large commercial opportunities we are targeting internationally with both products,” said Grogan.
Bio-Gene was granted two additional patients during the quarter, adding to the growing list of propriety technology the company has secured across the United States, Australia, Africa and Asia.
During the period Bio-Gene was accepted as the only Australian company member of The International Biocontrol Manufacturers Association (IBMA), based in Brussels. “The IBMA is a worldwide association of the biocontrol industry and Bio-Gene’s membership will ensure that the company has access to up-to-date information about the development path for biochemical products in different countries,” said Grogan.
Other highlights include a presentation made by Professor Catherine Hill, Head of the Department of Entomology at Purdue University in the United States, on Flavocide and Qcide to a seminar arranged by the Bill & Melinda Gates Foundation.