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BPO Announcement

  1. Oak
    1,815 Posts.

    New Termiticide Discovery

    Document date: Tue 17 Sep 2002 Published: Tue 17 Sep 2002 10:15:31
    Document No: 223254 Document part: A
    Market Flag: Y
    Classification: Progress Report - Other
    BIOPROSPECT LIMITED 2002-09-17 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    The Board of BioProspect is pleased to announce that it has developed
    a novel application for a plant extract that has shown significant
    activity for the control and treatment of termites. Code named AP778,
    the extract is sourced from a species of a native Australian tree.

    AP778 is the second major discovery for BioProspect's burgeoning
    natural agrochemical portfolio and should not be confused with Qcide,
    the natural insecticide discovered by BioProspect last year.

    Termites are a major problem around the world as they feed on wood
    and are responsible for the destruction of building structures,
    typically houses. It is estimated that termites are responsible for
    over $750 million damage per year to US households alone.

    Control techniques for termites are generally divided into two types,
    prevention and treatment.

    Tests to date show opportunities for AP778 to be used against
    termites in the following manner:

    * Repellant barrier - applied to the outer surface of, or in the soil
    surrounding the structure to be protected (prevention).
    * Wood treatment - sprayed onto or impregnated into building material
    to prevent termite attack (prevention).
    * Direct contact - eg for house incursions, treatment of termite
    colonies (treatment).

    The individual components in the plant extract that contribute to
    each of these applications have been isolated and their chemical
    structures determined.

    BioProspect has lodged a provisional patent covering the use of AP778
    as a repellant, an antifeedant (reduces or prevents normal feeding,
    leading to death), and as a direct contact termiticide.

    AP778 is unique, through its multi-action effect on termites, unlike
    existing products on the market.

    The agrochemical termiticide market has been searching for a
    chemical to replace the organochlorine insecticides that were
    largely withdrawn from the Australian market in 1995 because of their
    negative environmental effects. The current widely-used chemicals
    such as chlorpyrifos are not as effective as the organochlorines as
    they do not provide the longevity of protection of their
    predecessors, and have to be handled with caution because of the
    acute neurotoxicity. The market is seeking a natural alternative to
    existing products.

    World-wide sales of termiticide products are extensive. It is
    estimated that expenditures on termite control exceed US$l billion
    per annum in the US alone.

    BioProspect is currently in negotiations with international
    agrochemical companies for the licensing rights to AP778. The Company
    anticipates concluding these negotiations in the near future.


    S Snell
    CHIEF EXECUTIVE OFFICER


    For further information please contact:

    Mr Selwyn Snell
    CHIEF EXECUTIVE OFFICER
    (p) 07 3229 5755
    (f) 07 3229 4655

    --------------------------------------------------------------------------------

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