Keep the bugs at bay with agritech
Bio-Gene Technology Limited
- SIMON HERRMANN
- The Australian
- 12:00AM November 21, 2017
ASX Code: BGT
Shares on Offer: 35 million
Listing Price: 20c
Market
Capitalisation: $25.2m
Listing Date: November 30
Technology has always been a part of Australia’s agriculture industry, but I believe the sector is not adapting fast enough to technological progress. The result is an unsustainable industry that is not operating as efficient as it could be.
Technological innovation in the agriculture sector will be a key focus for many investors globally, with recent studies indicating that the industry is set to boom. Agricultural technology — also referred to as agritech or agtech — can help an industry, which is often limited by land and resources, to increase productivity and to operate more efficiently. Technology may include data capturing sensors, analytics, biotechnology or novel farming systems.
The coming IPO of Bio-Gene Technology offers investors the opportunity to invest in an early-stage agritech company, focused on the development of novel insecticides to address global problems of toxicity and insecticide resistance.
Research from Bio-Gene — which lists former Nufarm CEO Doug Rathbone as an adviser — indicates that many insects have developed resistance against common insecticides, and therefore impact crop yields or increasingly spread insect-borne diseases such as malaria or zika. Bio-Gene’s aim is to develop new insecticides to address this problem.
The company seeks to raise up to $7 million via an initial public offering with the majority of the funds used to develop its lead product, Flavocide, a chemically synthesised compound with potential to overcome existing insecticide resistance.
The funds will allow the company to progress with registration, enabling studies and field trials. It will take several years and a number of studies to take the product to market, but a successful outcome of these trials and on-boarding of partners will be a major validation of the product.
Risks are elevated for this early-stage company and the commercial merit of Bio-Gene’s IP has yet to be demonstrated. IPO investors will need to have a long-term speculative appetite.
Simon Herrmann is an investment analyst at wise-owl.com
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