BIO-GENE TECHNOLOGY LTD — Capital/Financing Update 2022

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ASX ANNOUNCEMENT
26 OCTOBER 2022
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SIGNIFICANT DEVELOPMENTS IN MOLECULE MANUFACTURING - UPDATE

• Advances made in optimising yields and securing other cost advantages for Flavocide[TM] and Qcide[TM]

• Identification of toll manufacturers and upcoming audit program

• Production of mid-scale volumes of Flavocide and Qcide

Bio-Gene Technology Limited (ASX: BGT, ‘ Bio-Gene ’ or the ‘ Company’ ) is pleased to announce recent achievements in the manufacturing of our molecules Flavocide and Qcide.

The Company has been delivering on its manufacturing strategy, by focusing on improvements in process refinements and selection of toll manufacturers.

Bio-Gene CEO Richard Jagger commented: “The developments to date represent significant milestones in the commercial manufacturing viability of Flavocide. In parallel with proving its ability to effectively control pests, an important part of the commercialisation process has been to confirm a pathway to produce commercially viable quantities of Flavocide.”

Dr James Wade, program manager for Bio-Gene added: “The manufacturing process for Flavocide is inherently complex, and we continue working with a number of specialised groups to develop the Standard Operation Procedure to allow for appropriate scale up. We are now confident that we have the pathway to scale up manufacture for larger quantities of the product. This has also been important to produce data required for our regulatory submissions, which require extensive manufacturing information, alongside of efficacy and safety data.

“We will be conducting direct audits on a select group of potential tollers over the next few months, with the help of our experienced advisors.”

In addition to significant advances in the chemical manufacture of Flavocide, Bio-Gene has continued to make material improvements in the all-natural Qcide production. Working alongside Bio-Gene’s famer collaborators, as well as James Cook University and our external advisors, the Company has been advancing the oil extraction process which is driven by a steam distillation process. In addition, identifying superior phenotypes representing high quantities of oil and high percentages of Tasmanone (the active ingredient in Qcide) has resulted in the selection of specific lines which are undergoing a cloning process to produce seedlings for future planting.

Dr Wade commented: “Identifying trees with the right level of oil and concentration of our key active ingredient is an important part of optimising our commercial opportunities. The more oil from each tree, and the more active ingredient in that oil results in a higher yield, which in turn reduces costs of production. Our work in identifying and managing these key phenotypes has also put us in the position to begin a Plant Breeders Rights (PBR) program that provides the Company with protection over its IP.

“Further to this, refining our distillation process has reduced processing time which equates to lower product costs.”

On his return from meeting with manufacturers next month, Dr James Wade will deliver a webinar discussing the details of Bio-Gene’s recent advancements in manufacturing protocols and scale up of both Flavocide and Qcide.

Bio-Gene Technology Limited ABN: 32 071 735 950 Level 11, 456 Lonsdale Street, Melbourne, VIC 3000

Approved for release by the Bio-Gene Board of Directors.

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About Bio-Gene Technology Limited

Bio-Gene is an Australian ag-tech development company enabling the next generation of novel insecticides to address the global problems of insecticide resistance and toxicity. Its novel platform technology is based on a naturally occurring class of chemicals known as beta-triketones. Beta-triketone compounds have demonstrated insecticidal activity (e.g. kill or knock down insects) via a novel mode of action in testing performed to date. This platform may provide multiple potential new solutions for insecticide manufacturers in applications across crop protection and food storage, public health, consumer applications and animal health. The Company’s aim is to develop and commercialise a broad portfolio of targeted insect control and management solutions.

Flavocide[ TM] and Qcide[TM] are trademarks of Bio-Gene Technology Limited.

Bio-Gene Technology Limited ABN: 32 071 735 950 Level 11, 456 Lonsdale Street, Melbourne, VIC 3000