- Ag-tech company Bio-Gene Technology (BGT) signs a commercial development agreement for its insecticide technologies with Clarke Mosquito Control Products
- Clarke will make license fee payments over the next three years to help with the ongoing development work by Bio-Gene
- Bio-Gene says previous trial results have shown Flavocide can control a particular species of mosquito that carries malaria and is resistant to common insecticide products
- BGT shares up 3.28 per cent to 31.5 cents
Ag-tech company Bio-Gene Technology (BGT) has signed a commercial development agreement for its insecticide technologies with Clarke Mosquito Control Products.
Bio-Gene said Clarke was the largest vertically integrated company in the public health mosquito control market in the US.
Last year the parties entered into an option agreement allowing them to negotiate commercial terms and develop a pathway towards product registrations and commercialisation of Bio-Gene’s insecticide technologies.
Under the terms now agreed, Clarke will make licence fee payments over the next three years to help fund Bio-Gene’s development work, which is needed for the registration of potential mosquito control products featuring the active ingredient Flavocide.
Bio-Gene said previous trial results showed Flavocide could control a particular species of mosquito that carried malaria and was resistant to common insecticide products.
CEO Richard Jagger said the agreement with Clarke was a strong validation of the potential of Bio-Gene’s technology for professional public health mosquito control.
“Clarke’s strategy fits perfectly with the unique natural technology we are developing at Bio-Gene and it is extremely encouraging to see Clarke confirming its belief in our technology after extensive in-house evaluation,” he said.
“Clarke is certainly the company of choice for this market, being vertically integrated across all areas of the business, from product discovery and development to deployment of new products.”
Clarke Executive Vice President, Strategic Partnerships and Alliances Kevin Magro said the company was excited with the partnership to develop novel public health mosquito control products.
“The work we have done to date suggests this natural technology could be the basis of truly differentiated and efficacious products that will be essential to meeting the needs of our customers and communities in our key market,” he said.
“Our commitment to invest in the continued development of this active ingredient
is a reflection of our confidence in the market potential of the Bio-Gene technology and our commitment to delivering mosquito control innovation through partnerships.”
BGT shares were up 3.28 per cent to 31.5 cents at 10:22 am AEDT.