Bio-Gene Secures U.S. Defence Contracts for Innovative Insecticides, Shares Up 130%

2 min read | January 29, 2025 01:33 PM AEDT | By Team Kalkine Media

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Bio-Gene Secures U.S. Defence Contracts for Innovative Insecticides, Shares Up 130% — Image source: @Tumisu/Pixabay

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Highlights

Major U.S. Defence Grants: Bio-Gene Technology receives $3 million in contracts to develop its flagship insecticides.

Wearable Insecticide: A $1.6 million grant will fund the development of Flavocide as a wearable product.

Bed Bug Solution: A $1.4 million grant will support the transformation of Qcide into an insecticide spray targeting infestations.

Bio-Gene Technology Ltd (ASX:BGT) has secured two significant grants from the U.S. Department of Defence (DOD) to further develop its cutting-edge insecticides, Flavocide and Qcide. The contracts, valued at a combined $3 million, mark a significant milestone for the Australian nanocap company specializing in nature-derived pest control solutions.

Under the agreements, $1.6 million will be allocated toward developing Flavocide into a wearable insecticide in partnership with U.S.-based R&D firm GearJump LLC. While specific details on the "spatially active" nature of the product remain unclear, the collaboration signals a promising advancement in personal pest protection.

The second grant, worth $1.4 million, will fund efforts to convert Qcide into a spray formulation aimed at tackling bed bug infestations. Both Flavocide and Qcide boast a novel mode of action (MOA) that differentiates them from conventional insecticides, potentially providing an effective solution against insecticide resistance.

"The award of these grants involved a peer-reviewed, highly competitive process and provides substantial validation for the potential of both Flavocide and Qcide to provide new solutions for pest control," said Bio-Gene CEO Tim Grogan.

The market responded positively to the announcement, with BGT shares soaring 130% to 6.5 cents in the second hour of trading on Wednesday.

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