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Bio Gene Technology (ASX:BGT) - CEO & Managing Director, Richard Jagger
CEO & Managing Director, Richard Jagger
Source: Finance News Network
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  • Bio-Gene Technology (BGT) receives a new patent allowance by IP Australia
  • The patent applications focus on Flavocide in combination with other chemistries, including the control of resistant pests
  • The company says this supports its core value proposition and provides an additional level of protection for the development and manufacture of its molecules
  • Bio-Gene Technology shares are up 2.94 per cent, trading at 17.5 cents at 3:20 pm AEST

Bio-Gene Technology (BGT) has received allowance of a new patent by IP Australia.

The company submitted patent applications around the world, designed to extend the protection of its technology for use as insecticides.

The patent applications focused on Flavocide in combination with other chemistries, including the control of resistant pests.

IP Australia has now allowed the second patent from these applications, following on from the recent allowance covering resistant pests, entitled “Pest Management”, due to expire in July 2038.

The company says this supports its core value proposition, and provides an additional level of protection for the development and manufacture of its molecules.

“New patents provide significant IP value to Bio-Gene, creating value for our commercial partners and strengthening our negotiation position for future commercial deals,” said Bio-Gene CEO Richard Jagger.

“It also offers further validation of our technology, highlighting the significant value and novelty of new products for the control of pests, particularly when used in combination with existing chemistries.”

“This has the potential to reduce the overall reliance on old chemistries, as well as reducing the incidence of ongoing resistance by incorporating multiple modes of action.”

Bio-Gene Technology shares are up 2.94 per cent, trading at 17.5 cents at 3:20 pm AEST.  

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