Q-Cide -The Natural Insecticide
In May 2001 BioProspect Limited made an exciting discovery from oil that was extracted from an Australian tree called Eucalyptus cloeziana. The chemical component in the oil that has efficacy on a range of insects is called Tasmanone and this is protected under a PCT patent from the company. The oil is in its natural state is called Q-Cide.
Laboratory testing was completed in 2002 and the results from this testing found that Q-Cide is efficacious against a range of pests, however the best results were obtained from a range of fly species, both domestic and agricultural. Benefits of Qcide include the knock-down effect that reduces re-infestation, safety data collected that concludes that Q-Cide has a minimal toxicity to mammals.
Current results demonstrate that Q-Cide is particularly effective in controlling hygiene insects including flies, mosquitoes and ants.
The company announced on 24 June 2008, that a license agreement with Bio-Gene Technology Pty Ltd had been signed. Bio-Gene is a West Australian company with expertise in growing, harvesting and extracting compounds from Australian native plants. The company has previously produced an essential oil from Boronia megastigma, a rare plant, which is endemic to the South West of Australia. Bio-Gene has already instigated work on human hygiene applications and fabrics/textile sanitizers that contain Qcide.
Key points of the agreement are:
- BioProspect grants an exclusive licence to Bio-Gene to develop and commercialise products containing Qcide on an international scale;
- Bio-Gene will initiate development work, grow-out and extraction programs to produce the natural oil;
- Upon commercialisation, BioProspect will receive a royalty of 2.0% from gross sales of any product containing Qcide;
- Bio-Gene will be responsible for all further development and IP patent costs;and
- BioProspect will remain involved in assisting Bio-Gene with collaborations relating to research, oil extraction and registration requirements.
This agreement permits a focused market specific approach on the compound by Bio-Gene using the existing toxicological and efficacy data that has been generated by BioProspect. This is a good outcome for both companies and the product.
For further information please contact:
Peter May
Chief Executive Officer
BioProspect Limited
(Ph): +61 (0) 7 3229 5755
(Fax): +61 (0) 7 3229 4655