It is the Company’s strategy to develop its technology in collaboration with multi-national partners across market sectors of animal health, crop protection as well as public health. It is the intention of the Company to generate revenues through fees received from partners in respect of their purchase of active materials,
lice nce fees, payments made upon successful milestones in product development activity and royalties on sales.
Bio-Gene has signed its first evaluation agreement with Virbac, a multi-national animal health company targeting animal health applications. A summary of the Company’s agreement with Virbac is set out in Section 12.1(i).
This partnership model has been created as:
- The technology may not work in all settings but opportunities in as many areas of need as possible should be evaluated;
- Speed to market may be potentially accelerated for value creation with core registration undertaken for lead molecules with partners;
- Potential partners will wish to undertake their own assessment and verification of data integrity so there is an early engagement policy with partners to drive quicker adoption; and
- The costs of registration and marketing are high so seeking multiple partners across a range of opportunities and sharing risk post proof of principle reduces being solely reliant on the Company’s resources.
Ultimately, there are a limited number of novel insecticides coming to market, and Bio-Gene has one of the few platforms that has potential appeal to the large players who are seeking new products to market separately and/or in combination with their increasingly older products. Bio-Gene believes that there will be potential interest among those larger companies for collaboration projects using Flavocide™.
The potential speed-to market benefit of collaborative partnerships may allow Bio-Gene to address the regulatory pathway in parallel to potentially shorten time to registration.