BioProspect Limited (ASX:BPO) is an Australian company engaged in developing and commercialising natural products and technology in the human health and personal care, animal health and nutrition and agricultural sectors. BioProspect also holds an investment in Frontier Gasfields, an Australian oil and gas explorer focused mainly on the Philippines.

TERMILONE®

TERMILONE® is the registered Trade Mark for the natural Eremophilone Oil extracted from Australian native, Eremophila mitchellii (also known as False Sandalwood or Budda).

Previously under development as a natural, environmentally friendly termite treatment, BioProspect has suspended further development in this category following laboratory and field trial results and a conclusive economic analysis. Potential exists for improved product performance via formulation or other technologies that may prompt future review and investigation.

The aromatic Eremophilone Oil is currently being evaluated for potential use in the essential oils and fragrance industry.

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History

Once the secret of outback farmers, TERMILONE®'s discovery traces back to observations made of 100-year-old fence posts in rural Queensland which had successfully withstood termite attack in an active termite area. While farmers believed the wood from the native Australian Eremophila mitchellii (False Sandalwood) trees was termite-proof, researchers discovered that the tree's oil was the hidden ingredient.


Fence posts in rural Queensland inspired the TERMILONE® discovery

Termites are the most economically destructive wood and cellulose-consuming insect in the world. In Australia, the pests invade an estimated 650,000 homes every year, causing $900 million worth of damage. Spending on termite control and building repairs due to termite damage exceeds more than US$4 billion a year internationally.

Studies demonstrated that TERMILONE® has low mammalian toxicity, making it safe for pest control workers, household pets and the environment.

In December 2009, BioProspect signed an international market development agreement with US company Ensystex Corporation. Under the agreement, Ensystex launched a two-year international testing program of TERMILONE® as a soil-applied termiticide under a variety of conditions.

In February 2010, BioProspect announced the successful registration of Eremophilone Oil as an active constituent with the Australian Pesticides & Veterinary Medicines Authority.

The Company also secured a patent in Australia for the use of Eremophilone Oil as an insecticide, with patents also pending in the leading termite control markets of the United States and Japan.

In October 2010, following extensive laboratory bioassay testing in collaboration with the University of Western Sydney and field trial results from Ensystex, a thorough economic analysis was undertaken, including consideration of manufacturing costs. As a result of this review BioProspect suspended further product development of TERMILONE® as a termiticide.


Untreated timber vs TERMILONE® treated timber on the right.

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