Bio-Gene Technology Limited (ASX: BGT), is an Austrlian biotechnology company which is committed towards the development of a new class of insecticides. Its two products namely Qcide and Flavocide target different sectors of the insecticide market.
Qcide is a natural oil extracted from the rare sub-set leaves of the Gympie Messmate (Eucalyptus cloeziana) focussing towards the organic insect control. Flavocide, on the other hand, is developed by chemically synthesizing a molecule to molecules with identical nature. It can also be found in the extracts of Gympie Messmate.
BGT owns a patent for controlling insects by using ?-triketone insecticides. Both the products are being developed to overcome the problems related to insecticides causing damage to the crops such as aphids and mites; to animal health such as fleas and ticks in cattle and buffalo fly in sheep and public health such as Aedes mosquitoes carrying Zika and Dengue virus.
Today, BGT announced a few scientific developments relating to the evaluation and production of Qcide. In addition to consumer applications for Qcide, the apps have grown including vector control and crop protection. The Company has, further, expanded its Qcide trial program to get data in these market segments and create an additional focus on its oil extraction practice.
Research conducted previously at Purdue University, USA on Flavocide exploring the efficacy against the Aedes aegypti mosquito, and the synergistic effects were found to be positive and the company, further, plans to repeat the same using Qcide with a hope to get similar effects. Ultimately this will make Qcide more efficacious and cost-effective.
According to Professor Catherine Hill, Purdue University, there is a great need for new and safer products to control mosquitoes and other flying pests of public health by delivering new actives for continued control of resistant mosquitoes within the next ten years. Studies with Flavocide suggest efficacy with a combination product extending mosquito control.
To produce a highly effective household knockdown spray, the University of Technology, Sydney will conduct studies based on Qcide incorporating other natural products allowing them to control a number of households flying pests such as mosquitoes and flies.
To increase the crop production from current and future plantations, The James Cook University, Queensland has commenced an engineering program in association with the BGT’s contract farmers. The aim is to maximize the yield potential from each kilogram of biomass that is harvested, further, providing a cost-effective product. The company also announced the successful application for a $50,000 grant via the Australian Government’s Innovations Connections program to assist in undertaking the JCU engineering project.
In September 2018, the company announced positive results for Flavocide in controlling a number of key crop pests in cotton, soybeans, and watermelon along with the control of Diamondback moth and Two-spotted mite.
In October 2018, it released a report stating positive results received from the study conducted on Flavocide on a 28-day repeat dose of oral and dermal mammalian toxicity. It also announced the improvement of the manufacturing process of Flavocide with cost reduction and better purity.
BGT’s stock price followed a downward trend this year falling by 37.5%, from 20 cents on 1 January 2018 to 12.5 cents today. There is no movement in the scrip price today.
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