Not what I was expecting :/Tez.12 February 2003The...

Not what I was expecting :/

Tez.

12 February 2003
The Manager
Company Announcements
Australian Stock Exchange Limited
Level 10
20 Bridge Street
SYDNEY NSW 2000
By Facsimile: 1300 300 021 No of pages: 2
QCIDE UPDATE
BioProspect Limited is now in receipt of new laboratory and field trial results
performed with Qcidc in addition to those carried out by University of Western
Sydney.
The laboratory results received from the trials confirm the high-level of efficacy of
the product as outlined in the PTC patent lodged, however, the field trial data received
presents an inconclusive picture as to the efficacy of Qcide.
Professor Spooner Hart of University of Western Sydney said, The laboratory data
received by BioProspect from its collaborators to date confirms the efficacy of Qcide
achieved in our original bioassays.”
“The product has also shown efficacy against some additional species of insects
previously not investigated. While the field trial data to hand is inconclusive, we have
seen some pleasing results against a number of hard-to-kill species.”
Nufarm Limited, the company responsible for this latest testing regime, has advised
BioF’rospect that further studies are required for Nufarm to consider progressing with
the development ofthe product.
Mr Selwyn Snell, BioProspect Limted’s ChiefExecutive Officer said that
BioProspect will take this come of action, following consultation with Nufarm, in
order to capitalise further on the already strong results being achieved at laboratory
level.
“In this regard, we will now undertake a series of in-house field trials to ensure
standard procedures and quality control of raw material for best practice in the
formulation of the product which will reduce slight variability in actual. field tests
carried out with Qcide,” Mr Snell said.
A.C.N. 008 130 338 A.B.N. 58 008 130 336
Suite 17, Level 9, 320 Adelaide Street, BRISBANE. QUEENSLAND 4000, AUSTRALIA
Ernail: [email protected] Wcbsite: www,bioprospect.com
Telephone: + 617 3229 5755 Facsimile: c617 3229 4655
1 2 - 0 2 - 0 3 ; 1 0 : l i A M ; E ~ 1 o P r o s p e c t L l m l t e l 1300300021 ;5173?i946E5
“BioProspect’s Board, management and scientific team remain confident that a
significant commercial product exists in Qcide, due to the fast knockdown nature of
the product, its high efficacy against certain hard-to-kill insects, and the fact it’s a
natural product.”
In addition to BioProspect’s in-house assessment, thc product is still undergoing a
series of trials with global giant Sumitorno and other collaborators.
Sumitorno continues to perform an extensive scries of trials against a range of pests
using proprietary formulations that it has developed and BioProspect continucs to
work closely with Sumitorno as Qcide progresses towards commercialisation.
Sumitorno have indicated the results from these tests should be available in March.
In addition to the work being undcrtakcn by Sumitorno, the Company has received
additional interim data that shows Qcide has a high kill rate against mosquitoes and
flies.
Further information regarding the product’s activity in these areas should be available
by the end of February.
Neudorffof Germany who is evaluating Qcide for the domestic household and turf
markets is due to report their data by the end of the monTh.
Yours sincerely
/ SELWYN SNELL
Chief Executive Officer
For further information:
Mr Selwyn Snell.
Chief Executive Officcr
BioProspect Limited
Tel: 07 - 3229 5755