teq0904
5 years ago
Bee Vectoring Provides Corporate Update
________________________________________
Mississauga, ON Canada (June 13, 2019) – Bee Vectoring Technologies International Inc. (the “Company” or “BVT”) (TSXV: BEE) (OTCQB: BEVVF) today provided a corporate update and review of current business activities.
Our primary objective is the full U.S. commercial launch of BVT’s vectoring delivery system, utilizing VECTORITETM with CR-7. Market expansion across crop varieties, into markets outside of the U.S. and through strategic or synergistic product development represent further growth initiatives.
The four pillars supporting our launch and growth plans are:
1. Regulatory Approval, for each required jurisdiction;
2. A robust Commercialization and Marketing strategy;
3. Ongoing Product Development and Innovation;
4. A solid Corporate strategy, inclusive of partnering and licensing activity, to maximize the potential of our internal product pipeline, as well as capitalize on and accelerate opportunities that arise as we distort the existing market with our novel technology.
We are pleased to provide a short update on the significant progress made with activities in these four pillars.
Regulatory / Approvals activities:
• US EPA: The US Environmental Protection Agency (EPA) is reviewing the Company’s submission of VECTORITETM with CR-7 for use in BVT’s vectoring delivery system. BVT is in regular contact with the EPA and believes the agency is nearing the completion of the review. No additional data has been requested and our US commercial launch is scheduled this fall.
• Mexico: The Company has started trials, conducted in Mexico by government approved researchers, in support of registration. The Company has started evaluating distribution partners for the Mexican market. Mexico is the second largest producer of berries in the world and there are more than 12,000 hectares of fresh market tomatoes being grown in greenhouses.
• Switzerland: The Swiss authorities are reviewing the Company’s regulatory submission. BVT is in active contact with the reviewing authorities and there have been no questions or requests that suggest any change to an expected decision late 2019 / early 2020. Switzerland is a beachhead country for BVT in the European market, where the Company’s precision, biologic-based technology is well-suited for use within the European sustainable agriculture practices.
Commercialization / Marketing activities:
• Revenue: In the Quarter ended March 31, 2019, BVT posted its first revenue from a successful pilot launch into the Southeastern USA Strawberry market. Revenue of CAD $58k came from five strawberry growers, and one Blueberry grower, who elected to purchase the system after participating in field studies in previous years. As growers adopt the BVT system and can quantify their own crop improvements, the Company anticipates growth from an increase in percentage of each grower’s treated acreage as well as the addition of new buying growers.
• Crop validation: The focus of the pilot launch was the Florida strawberry market; however, BVT was independently contacted by blueberry growers in Georgia interested in its novel approach to increase yields. This is relevant as the company believes that at this early stage revenue from multiple crops is more important than the level of revenue in a single crop, and in context, the Southeastern US strawberry market is relatively modest when compared to blueberries across the country. Studies are ongoing in multiple blueberry markets in the US as well as in sunflowers.
Product Development / Innovation activities:
• Honeybee dispenser: The Company continuously incorporates device improvements and has now developed a user-friendly honeybee dispenser targeting the established market for commercial honeybee pollination. The system is being tested in almonds, blueberries, sunflowers and strawberries in 2019, in anticipation of a launch in 2020.
• Broadening product portfolio: Crops face many pests during a growing season, and by including third-party products that can be "stacked" together with BVT's own product, a broader scope of pests can be managed through the BVT systems thus increasing the value to a grower. BVT has the only bee vectored delivery system in the US and the company is currently evaluating seven third-party microbial products for delivery through its bumble bee and honeybee systems.
• Foliar formulation: Some of the largest crops worldwide such as corn and soybean do not require bees for pollination. In addition, there are several diseases that affect crops during periods other than bloom which would be difficult to manage through bee vectoring application. BVT has started evaluating spray formulations of its proprietary beneficial microbe – Clonostachys rosea strain CR-7 – which could potentially benefit hundreds of millions of acres of additional crops.
Corporate Development and Partnering activities:
BVT has fifteen current and ongoing discussions with potential business partners covering four areas:
1. Commercial – distribution arrangements in markets with no / limited BVT resources where the technology has a strong fit;
2. Product line expansions – in-licensing third party biological control agents that could be vectored by bees to manage pests on crops that are not addressed by BVT’s CR-7 product;
3. Market extension – foliar and seed treatment uses for BVT’s CR-7 product in markets with significant revenue opportunity where bees are not used;
4. R&D – partnerships to strengthen knowledge of bees and delivery by bees thus optimizing the system and capturing greater value
These partnering discussions indicate a strong industry interest in the Company’s technology. The Company believes that several of these discussions will result in agreements that will accelerate business expansion.
“The Company has made significant progress on all strategic fronts, particularly in areas where we have control on timelines,” said Ashish Malik, President and CEO. “We have a sharp focus on the US launch in the context of an overall business plan that includes a wider product offering and global, multi-crop reach that will position BVT as a formidable force within the agriculture industry.”
makinezmoney
6 years ago
$BEVVF: NEWS..... Cross-Licensing with BIOBEST
(BEE.V) Bee Vectoring Technologies and Biobest Enter into Cross-Licensing AgreementFont size: A | A | A
6:00 AM ET 10/30/18 | Dow Jones
Mississauga, Canada and Westerlo, Belgium--(Newsfile Corp. - October 30, 2018) - Bee Vectoring Technologies International Inc. (TSXV: BEE) (OTCQB: BEVVF) ("BVT"), a leader in developing solutions for sustainable agriculture and Biobest Group NV of Belgium ("Biobest"), a leading player in pollination and biological control with presence in 60 countries on 5 continents, today announced a global technology sharing agreement (the "Agreement") which provides reciprocal access to certain patents of each company. The Agreement enables both companies to accelerate efforts to bring best in class bee vectoring solutions to growers worldwide and ensuring leading positions in the market. Bee vectoring systems use managed bee hives to efficiently deliver naturally derived plant treatment products for crop protection and enhancement while at the same time providing pollination of the target crop.
Jean-Marc Vandoorne, CEO of Biobest stated: "Bee pollination is a crucial factor in global agriculture. Using commercially reared bumblebees for pollination, we've been able to profoundly transform the global horticultural industry by increasing productivity and generating a decisive push towards greater sustainability. Bee vectoring is now opening up a whole new array of application opportunities, combining pollination with delivery of targeted plant treatments. Biobest and BVT are both pioneers in the field of bee vectoring, and by cross licensing specific related patent estates both companies can focus on ensuring that our partners and our customers have access to the best possible bee-vectoring platform available for delivery of biopesticides or other natural products. Our partners and our customers can be confident Biobest and BVT are committed to lead this field."
Through bee vectoring, a highly targeted application of natural plant treatment products can be efficiently and effectively delivered to the flower of a crop. This results in a dramatic reduction in over-sprays, water use, and overall handling, while at the same time effectively protecting the crop and thus increasing crop productivity. The goals are to provide growers with increased marketable yields, better crop protection, and a healthier natural solution that the consumers worldwide are demanding.
Ashish Malik, CEO of Bee Vectoring Technologies, added, "BVT and Biobest have a shared vision and commitment to sustainable agriculture and believe that bee vectoring is a powerful mechanism to optimize delivery of biopesticides, and other natural crop enhancing or protecting products. Biobest has a global presence, is a leading bumblebee supplier, and has significant research commitment towards natural biologic solutions for the future of farming. It is both a significant milestone and a source of pride, for BVT to have our vectoring technology validated and positioned within an industry leader that shares a similar vision for the future of agriculture."
Biobest worked in collaboration with the research group of Professor Guy Smagghe at VUB (Free University of Brussels) to develop a bumble bee hive equipped with dispenser technology commercialized under the name Flying Doctors(R). It has brought fully registered solutions to market in Europe since 2013. BVT has been founded based on work from retired university professors from the University of Guelph in Ontario, Canada and is in a rapid commercialization phase with initial focus in the US market. BVT has over 60 patents and patent applications worldwide covering five different aspects of its technology.
About Biobest - www.biobestgroup.com
Biobest, headquartered in Belgium, is a leading player in pollination and biological control that first introduced commercially-reared bumble bees to the market 31 years ago. The company has a distribution network that reaches growers in over 60 countries on 5 continents. Through its subsidiaries, the company has production sites, sales and technical support staff strategically located across the globe for effective worldwide service. Biobest distributors in many countries are key partners with whom the company works very closely to help customers achieve their economic and ecological goals.
About Bee Vectoring Technologies International Inc. - www.beevt.com
BVT has developed and owns patent-pending bee vectoring technology that is designed to harmlessly utilize bumblebees and honey bees as natural delivery mechanisms for a variety of powdered mixtures comprised of organic compounds that inhibit or control common crop diseases, while at the same time enhancing crop vigor and productivity. This unique and proprietary process enables a targeted delivery of crop controls using the simple process of bee pollination to replace traditional crop spraying, resulting in better yields, superior quality, and less impact on the environment without the use of water or disruptions to labour.
For further information, please contact:
Ashish Malik, President & CEO, BVT
marketing@beevt.com
Lise Verachtert, Communication Coordinator, Biobest Group NV
lise.verachtert@biobestgroup.com
Babak Pedram, Investor Relations
Virtus Advisory Group
Tel: 416-995-8651
bpedram@virtusadvisory.com
Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Company, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include changes in law, competition, litigation, the ability to implement business strategies and pursue business opportunities, state of the capital markets, the availability of funds and resources to pursue operations, new technologies, the ability to protect intellectual property rights, the ability to obtain patent protection for products, third-party intellectual property infringement claims, regulatory changes affecting products, failing research and development activities, the ability to reach and sustain profitability, dependence on business and technical experts, the ability to effectively manage business operations and growth, issuance of debt, dilution of existing securities, volatility of publicly traded securities, potential conflicts of interest, unlikelihood of dividend payments, the potential costs stemming from defending third-party intellectual property infringement claims, the ability to secure relationships with manufacturers and purchasers, as well as general economic, market and business conditions, as well as those risk factors discussed or referred to in the Company's Filing Statement dated May 29, 2015, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Inspira undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
> Dow Jones Newswires
October 30, 2018 06:00 ET (10:00 GMT)
News
Market Data
Register for real-time alerts, custom portfolio, and market movers
KeepOn
2 years ago
robtewms
6 years ago
