- Bee Vectoring Technologies (BEE) has successfully completed phase two evaluations of its biological products in North America
- By reaching this milestone, the company will be able to unlock new streams of revenue through third-party product in-licensing
- Field trials of BVT’s biological insecticide and fungicide in Europe are ongoing, and should finish by late fall
- In phase three, the company intends to begin conducting discussions on contractual arrangements for its products
- Bee Vectoring Technologies (BEE) is up 17.86 per cent and is currently trading for C$0.33 per share
Bee Vectoring Technologies (BEE) has successfully completed phase two evaluations of its biological products in North America.
The phase two evaluations consisted of proof-of-concept field trials with two of the company’s biological insecticides. Field trials of a third insecticide, as well as a biological fungicide, are still ongoing in Europe, and should finish by late fall.
In the North American trials, the biological insecticides were present in the flower tissue after application. This confirms that micro-organisms were successfully delivered and were able to colonise the crop through BVT’s agricultural system.
In addition, the trial crop demonstrated a reduced population of crop-damaging plant bugs during the season. This is further encouraging data which shows how effective the company’s biological products are at managing pests.
Having reached this milestone, BVT will now be able to unlock new streams of revenue through third-party product in-licensing. BVT’s CEO, Ashish Malik, commented on the company’s completion of phase two evaluations.
“The products under evaluation are already commercially available and registered in the US or the EU, which means we can get to revenue faster without completing some of the registration requirements that can be time-consuming and costly.
“Environmentally responsible pest and disease management, in-hand with improving crop yields, are critical challenges for growers.
“Hence, the more biological products we can incorporate through our proprietary delivery system, the broader the market acceptance and adoption, which will in turn create higher revenue potential for BVT,” he said.
Looking ahead to phase three, the company will soon begin collaborating more closely with its partners to develop a framework for a contractual agreement. BVT will also make plans for larger-scale field trials of its biological products in 2021.
Bee Vectoring Technologies (BEE) is up 17.86 per cent and is trading at C$0.33 per share at 9:56am EDT.
