Bio-Gene Technology extends commercial development agreement

Bio-Gene Technology Ltd (ASX: BGT) announces that the Licensing and Development Agreement with Clarke Mosquito Control has been extended for the United States and the Cayman Islands. Clarke has increased its rights under the revised Commercial Development Agreement to investigate, develop, and commercialise an insecticide product based on Flavocide for the residential mosquito control sector, in addition to its current access arrangement for the public health mosquito control market. Professional service businesses that provide mosquito control treatments on private homes dominate the residential mosquito control industry in the United States and the Cayman Islands.

Flavocide, the active ingredient, will be provided by the company to Clarke, who will then be in charge of creating and registering end-use goods. At the same time, Bio-Gene will continue to focus on data acquisition and Active Ingredient registration applications. The Agreement specifies payment conditions to Bio-Gene for product development milestone payments, royalties on in-market end-use goods, and the purchase of Flavocide from Bio-Gene.

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