Bio-Gene Technology Limited (ASX: BGT), an Australian innovator in bio-insecticides, has entered into a strategic collaboration with Envu, a global provider of environmental solutions to evaluate its flagship product Flavocide for use in public and private sector mosquito management.
Over half of the global population is at risk from vector-borne diseases like malaria, Zika virus, and Dengue Fever, with climate change expanding the breeding grounds for these vectors. In response, companies like Bio-Gene are developing innovative insecticides.
The collaboration will explore the potential of Flavocide to overcome insect resistance, a critical issue in public health. Bio-Gene and Envu are currently evaluating several formulations of Flavocide for professional applications, with plans to expand its use in global mosquito management efforts.
Bernard Jacqmin, Senior Vice President and Head of Global Innovation for Envu said: “We are pleased to be working with Bio-Gene and to formulate and evaluate Flavocide for use in mosquito management applications.
“Flavocide is derived from nature and, based on our testing completed to date, has demonstrated a favorable profile to combat mosquitoes. Our combined efforts are already showing promising results in the testing phase, and we are excited about the potential benefits for consumers and professionals in the field.”
This partnership aims to leverage Bio-Gene’s novel bio-insecticide, Flavocide, to enhance Envu’s existing portfolio of professional pest management solutions. Flavocide, a nature-identical compound based on Flavesone from eucalypts, has demonstrated effectiveness in controlling mosquitoes, which are notorious for transmitting diseases like Malaria, Dengue fever, and Zika virus. Future development or licensing agreements will be jointly announced by the companies.
Tim Grogan, Managing Director & Chief Executive Officer for Bio-Gene said: “Our work with Envu extends the potential for Flavocide to be used in major professional pest management and public health target markets worldwide for the control of mosquitoes.
“Envu is a world leader in the commercial development and marketing of new and sustainable products to combat mosquitoes. This important program supports our strategy of engaging with a range of strong partners to fully exploit the opportunities available for our technologies.”
In the first week of August 2024, Bio-Gene received feedback from the Australian Pesticides and Veterinary Medicines Authority (APVMA) regarding the regulatory studies needed for their Flavocide insecticidal active ingredient. This feedback plays a vital role in helping Bio-Gene align their planned studies with the APVMA’s requirements, ensuring that the necessary data for chemistry, manufacturing, and safety is both comprehensive and appropriate. The guidance received will support Bio-Gene’s efforts to submit their regulatory application for Flavocide by December 2025.
The Company reported progress in Q4 FY24, focusing on the development and commercialisation of its flagship insecticide products, Flavocide and Qcide.
For the quarter ended 30 June 2024, Bio-Gene reported $1.8 million in cash receipts, representing a 50% increase on the March quarter. This resulted in a significant positive operating cash flow of $1.2 million, reducing the full-year operating cash outflow to $0.3 million.
As of 30 June 2024, the Company held $2.0 million in cash reserves.
Sidra is a Business Writer with The Sentiment
Latest posts by Sidra Surmed (see all)
- Interest in captioning tech sees jump in earnings for AI-Media - August 29, 2024
- Despite construction industry challenges, Duratec delivers earnings growth - August 28, 2024
- AI-powered road safety solutions pave the way for Acusensus revenue bump - August 27, 2024
Leave a Comment
You must be logged in to post a comment.