- Bio-Gene Technology (BGT) secures a new US patent, “significantly” extending coverage of the company’s molecules in the country
- The patent sits alongside the company’s other US patent controlling all classes of resistant insects and arachnids in all significant environments where pest infestations happen
- This new patent is expected to remain in effect until December 2039
- BGT last traded at 8.5 cents
Australian agtech company Bio-Gene Technology (BGT) has secured a new US patent, “significantly” extending coverage of the company’s molecules in the country.
The patent expands the use of Bio-Gene molecules, including Flavocide, to control all classes of resistant insects and arachnids in various environments where pest infestations occur.
This new patent complements the company’s existing US patent, which already covers the use of flavesone and related molecules to control resistant insects in agricultural environments, including resistant grain storage insect pests.
“It broadens our patent coverage to include insect and arachnid pests in all target environments, creating significant value for Bio-Gene and our commercial partners,” BGT Managing Director and CEO Richard Jagger said.
“… Patent protection is an essential requirement on our commercialisation pathway, and we are very pleased with this approval.”
The estimated market for insecticides across the US is worth roughly US$5 million.
The process for the patent began in July 2018 when the company submitted an international patent application to further the protection of its technology for use as pesticides, including insecticides, before receiving the notice of allowance in March 2023.
This new patent is expected to remain in effect until December 2039. Additionally, BGT is currently examining additional patent applications in various regions around the globe.
BGT last traded at 8.5 cents.