BGT 2.86% 7.2¢ bio-gene technology ltd

Some media coverage from earlier in the week by Tim Boreham -...

  1. 22 Posts.
    Some media coverage from earlier in the week by Tim Boreham - http://www.theaustralian.com.au/bus...f/news-story/9242f482be7e703fa7a71eba6101327e

    Bio-gene Technology (not yet listed)
    Bio-gene is slated to list on November 30, having raised $7m in an oversubscribed issue at 20c apiece.

    The company’s premise is that pests such as cattle mites, mosquitoes and grain weevils have become resistant to the standard treatments that have been around for decades.

    In a household context, look no further than the pesky flies that resurrect themselves despite being sprayed with half a can of Mortein. Or else the treatments are so toxic they destroy “innocent” species such as bees.

    Bio-gene’s products, Flavocide and Qcide, are based on a naturally occurring chemical called beta triketone first identified in eucalyptus oil in 2001.

    The company is coy about the mechanism of action but says it differs from that of the 30 or so existing classes of insecticides (mainly neuro-toxins).

    Bio-gene’s testing was promising enough to attract French agchem house Virbac as a partner, in view of developing treatments for ruminant animals such as cows, sheep and pigs.

    Bio-gene executive director Robert Klupacs says any one of the targeted pests are markets in themselves. Insects destroy an estimated 18-26 per cent of crops, with 586 species resistant to at least one class of insecticide.

    In the case of grain, about 5 per cent of Australian and US crops are wasted in the silo and in India the figure can be as high as 30 per cent.

    Bio-gene has raised $4.3m in pre-IPO funding. While some of these holders are escrowed, there’s a danger of them taking profits post listing.

    As well as availing of Rathbone’s contacts and know-how, Bio-gene has hired a former Monsanto heavy hitter, Richard Jagger, as CEO.
 
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