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These products have proven efficacy in animal production and domestic pest control, yet have low human and environmental impacts.
BioProspect has made a number of strategic changes to ensure faster product market entry and shareholder return. The company's board is experienced in all facets of management, product development, partnering and distribution opportunities.
Partnerships have been created and the company is secured financially for the next two years of development and commercialization work.
InvestorTV discusses this progress with BioProspect managing director, Warwick Dowse.
“Our strategy is to bring products to market that are low toxicity to animals and humans, and to the environment,” Warwick says. “We now have two major projects on the go and our objective is to move away from research and development into pre-commercial work.
“We’ve got some very interested parties to work with us, and the company is now structured to take that forward.”
BioProspect is especially focussed on a termite control solution and animal health and nutrition.
“We have two key projects,” Warwick says. Our first project is the TERMILONE® project, where we’re developing a natural pesticide for termite control and barrier treatment. This project has been going on now for nearly four years, and we’re now at a stage where our research and development work is now slowly changing into pre-commercialisation work, so we’re planning on cash flows coming into the company a lot earlier, at this stage.
“Our second project is Bioeffectives®. These products come from our partner company Solagran. The products will be used in animal health and nutrition, to try and alleviate the use of synthetic products like antibiotics, for example.”
Mr Dowse expects BioProspect to have a TERMILONE® product ready for the market late in 2009.
“In the case of TERMILONE®, we would hope to have our data package ready for submission to the APVMA, that’s the pesticide authority here in Australia, by mid to late 2008, assuming all goes to plan,” Warwick says.
“In terms of having a commercial product ready, we could safely say late 2009 and we should have a product ready to go, to get into the market and start bringing cash into the company.
“In the case of Bioeffectives®, it really depends on our regulatory route. We could start selling them earlier than expected.
The route to commercialisation of biological products can be circuitous. Mr Dowse explained the steps BioProspect is taking.
“The first thing we have to do is ensure that our data package is ready for the APVMA, and we’re very close to that,” Warwick says.
“Then we look at our commercial partners, and there are a number of them that are sitting there waiting to do a specific arrangement with us, whether it’s pre-registration or post-registration, so we’re very close there. We also had to make sure that our intellectual property is well and truly under control, and we’ve done that.
“The board had to be restructured, so now we’ve done that and we’ve got a new chairman, Steve Morrow, who has a lot of experience in pre-commercialisation of products like this in the marketplace, and (he) has very good contacts both here and overseas.
“Importantly, we had to ensure that we had some long-term investors, which we’ve done, and they’ve provided some well-needed cash to the company. We have a definitive plan now for two of our projects to go forward and a strategic partner with one of those projects, so that’s very important.”
Mr Dowse says shareholders should be feeling comfortable about their investment in BioProspect, given recent progress.
“Well, I’d hope they’re very confident,” Warwick says. “We’ve now turned the company around and we’re getting closer to a commercial situation, and that’s when the cash starts coming in.
“We’re moving slowly away from pure research and development. The two projects are now well underway, getting data ready for the APVMA here in Australia.
“We’ve generated some very, very good interest from commercial partners around the world, we have a good strategic partner in Solagran and we also have a well-structured and focussed board to take us to the next level.”
BioProspect has made a number of strategic changes to ensure faster product market entry and shareholder return. The company's board is experienced in all facets of management, product development, partnering and distribution opportunities.
Partnerships have been created and the company is secured financially for the next two years of development and commercialization work.
InvestorTV discusses this progress with BioProspect managing director, Warwick Dowse.
“Our strategy is to bring products to market that are low toxicity to animals and humans, and to the environment,” Warwick says. “We now have two major projects on the go and our objective is to move away from research and development into pre-commercial work.
“We’ve got some very interested parties to work with us, and the company is now structured to take that forward.”
BioProspect is especially focussed on a termite control solution and animal health and nutrition.
“We have two key projects,” Warwick says. Our first project is the TERMILONE® project, where we’re developing a natural pesticide for termite control and barrier treatment. This project has been going on now for nearly four years, and we’re now at a stage where our research and development work is now slowly changing into pre-commercialisation work, so we’re planning on cash flows coming into the company a lot earlier, at this stage.
“Our second project is Bioeffectives®. These products come from our partner company Solagran. The products will be used in animal health and nutrition, to try and alleviate the use of synthetic products like antibiotics, for example.”
Mr Dowse expects BioProspect to have a TERMILONE® product ready for the market late in 2009.
“In the case of TERMILONE®, we would hope to have our data package ready for submission to the APVMA, that’s the pesticide authority here in Australia, by mid to late 2008, assuming all goes to plan,” Warwick says.
“In terms of having a commercial product ready, we could safely say late 2009 and we should have a product ready to go, to get into the market and start bringing cash into the company.
“In the case of Bioeffectives®, it really depends on our regulatory route. We could start selling them earlier than expected.
The route to commercialisation of biological products can be circuitous. Mr Dowse explained the steps BioProspect is taking.
“The first thing we have to do is ensure that our data package is ready for the APVMA, and we’re very close to that,” Warwick says.
“Then we look at our commercial partners, and there are a number of them that are sitting there waiting to do a specific arrangement with us, whether it’s pre-registration or post-registration, so we’re very close there. We also had to make sure that our intellectual property is well and truly under control, and we’ve done that.
“The board had to be restructured, so now we’ve done that and we’ve got a new chairman, Steve Morrow, who has a lot of experience in pre-commercialisation of products like this in the marketplace, and (he) has very good contacts both here and overseas.
“Importantly, we had to ensure that we had some long-term investors, which we’ve done, and they’ve provided some well-needed cash to the company. We have a definitive plan now for two of our projects to go forward and a strategic partner with one of those projects, so that’s very important.”
Mr Dowse says shareholders should be feeling comfortable about their investment in BioProspect, given recent progress.
“Well, I’d hope they’re very confident,” Warwick says. “We’ve now turned the company around and we’re getting closer to a commercial situation, and that’s when the cash starts coming in.
“We’re moving slowly away from pure research and development. The two projects are now well underway, getting data ready for the APVMA here in Australia.
“We’ve generated some very, very good interest from commercial partners around the world, we have a good strategic partner in Solagran and we also have a well-structured and focussed board to take us to the next level.”
