Agtech company Bio-Gene Technology (ASX:BGT) has updated investors on its activities for the quarter ending March 2024.
The company is developing and commercialising novel insecticides derived from nature.
Bio-Gene CEO and managing director Tim Grogan said, “I am very pleased with the strong progress made during Q3 in accordance with our four strategic priorities. These are the timely filing of our Flavocide regulatory dossier with the Australian regulator, focussed development of our product pipeline, further commercial validation to support the development and launch of products containing Flavocide and Qcide, and the efficient use of our shareholder capital."
Mr Grogan said the scale-up synthesis of Flavocide AI and the required safety studies, which the company will include in its application for regulatory approval, is on track. He said that the key milestone is to file the application with Australia's TGA in the fourth quarter of the calendar year 2025.
"We continue to see evidence of the increasing relevance and commercial interest in Bio-Gene’s products – derived from nature," he said.
"This is rapidly increasing due to consumer and regulatory changes in the external environment and the commercial pressures being placed on developers and marketers of insecticidal products internationally to move to products that have a more ‘balanced’ efficacy and safety profile. The diverse range of applications and target markets for Flavocide and Qcide are important factors supporting the large commercial opportunities we are targeting internationally with both products," said Mr Grogan.