An Ag tech company enabling the next generation of safer insecticides that address insecticide resistance. Bio-Gene owns patents that cover a new class of chemistry derived from nature with a novel Mode of Action that addresses the ever increasing development of resistance to currently used chemistry
Richard Jagger – Chief Executive Officer
Richard has extensive experience in developing and commercialising new technologies in the Agriculture sector.
Richard was previously the Managing Director of Sinochem Australia, a division of the largest Agrochemical company in China. Prior to Sinochem, he worked with Monsanto for over 20 years where he led the implementation team for the first genetically modified crop in Australia; ‘Bollgard insect-resistant cotton’, which has been used for over 20 years to reduce pesticide use. Richard also spent many years overseeing the management of the Roundup brand of glyphosate, the most widely used pesticide in the world.
What is your rationale for attending 121 Tech Investment?
We are seeking investors interested in clean technology that offers effective and safe control of insects in agriculture, public health, animal health and consumer applications. We are currently working with potential global commercial partners to identify specific market applications. While we have solid funding behind us, we would anticipate the need to raise additional funding to complete registration within the next 12 months.
What recent news would you like to highlight to investors attending?
Bio-Gene listed on the ASX in November 2017. Throughout 2018, we completed a number of Proof of Concept studies, covering efficacy, safety and toxicology, manufacturing efficiency, and details of the unique Mode of Action. This enabled us to begin discussions with potential commercial customers – global leaders in the markets we had identified for the technology. We currently have a number of these companies undertaking internal evaluations of our compounds, with the expectation of more to follow. These internal evaluation studies are expected to advance into longer term commitments for co-development of commercial products
What are your key goals for the next 3, 6 and 12 months?
Internal evaluation by potential global partners
On-going testing and identification of commercial applications, leading to development partnerships
Further partnerships, and preparation of data for registration applications
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Bio-Gene’s commercial model requires the partnership of established global partners. Without these partnerships, it is difficult to gain market access. Bio-Gene’s Proof of Concept studies has enabled us to demonstrate the value of our technology to world leaders in a number of market segments. These data gives them the confidence to proceed with testing to identify specific market opportunities within their own areas of expertise
What do you think makes your company such a compelling investment?
Our unique chemistry of natural origin has the ability to address the ever-increasing issue of resistance to existing insecticides. Discovery of unique, effective and safe chemistry is very rare, and the market is very keen to adopt new chemistry with unique Modes of Action. Our technology has the ability to be adopted by a number of companies across a number of market segments