Stock Report

Bio-Gene and Rallis India Limited achieve key Flavocide® production milestone

Posted On : 2024-09-02 10:36:04( TIMEZONE : IST )

Rallis India Limited ('Rallis') a TATA Enterprise, a leading player in the Indian Agri inputs industry and Bio-Gene Technology Limited ('Bio-Gene'), an Australian company developing the next generation of novel insecticides derived from nature, announce the successful completion of pilot-scale production of pre-commercial quantities of Flavocide®.

Highlights:

- Successful pilot-scale production of Flavocide® conducted by Rallis

- Demonstration that Flavocide® can be produced at a consistent quality and yield at precommercial scale

- Flavocide® produced by Rallisto be used in planned testing activities to advance the registration process for Flavocide

- Rallis has capacity to produce Flavocide® in sufficient quantities for future supply to Bio-Gene's commercial licensees

Announcing the above, Dr Gyanendra Shukla, Managing Director & CEO, Rallis India Limited, said, "With a long-standing history of agrochemicals manufacturing and strategic partnerships with global customers; Rallis is committed to supporting the development and commercialization of next-gen sustainable solutions for the Crop Protection and allied sectors. Our partnership with Bio-Gene for the successful process development and scale-up of their patented nature-identical Flavocide® insecticide is testament to that commitment. While Rallis does not expect the business to be material at this stage, we look forward to continuing to work closely with Bio-Gene to enable the successful global commercialization of Flavocide-based solutions over the next few years."

Flavocide® is a nature-identical product based on Flavesone, a naturally occurring plant compound present in some eucalypts. Bio-Gene has developed a proprietary process to synthesise the molecule and produce it in commercial quantities. Bio-Gene owns all intellectual property created by its contractors relating to the synthesis of Flavocide®.

Shares of Rallis India Limited was last trading in BSE at Rs. 351.95 as compared to the previous close of Rs. 355.00. The total number of shares traded during the day was 54641 in over 1872 trades.

The stock hit an intraday high of Rs. 366.70 and intraday low of 349.35. The net turnover during the day was Rs. 19533399.00.