Ghent, Belgium
October 5, 2007
Devgen NV (Eurolist: DEVG) today announced further positive
results with its nematicide in US field trials on vegetables and
a number of other crops.
Based on these positive developments, Devgen will now ramp up
its US activities. Devgen's board has decided to set up a US
subsidiary in Delaware to bring the development program of the
product to the next phase and to apply for the registration of
the product.
The data were generated from trials in 13 different states of
the US, and will form a substantial part of the regulatory
dossier that will be submitted to the US authorities in
2008/2009. The US market is the second largest nematicide market
after Japan.
The company previously reported positive regulatory field trial
results in Europe and promising results in tropical countries.
More news on the trials in Europe and Japan will follow in due
course.
Stefan Frey, COO of the company commented: "The data continue to
confirm that we have a highly promising product at hand with the
potential to address an unmet agricultural need."
Furthermore, Jos Van Ast has joined the company as Manager EMEA
and global product strategy to strengthen the team. Jos has been
in the agro-chemical sector for nearly 20 years. He held various
senior positions in the top tier agro chemical companies. Prior
to joining Devgen, he was country manager for FMC Australasia.
Devgen is a top 10 public agro biotech company with
agricultural business units focused on developing and
commercializing:
• a novel generation of biotech products to protect a wide
spectrum of crops from damage incurred from pests;
• biotech traits and germplasm to meet the growing needs for
high yielding, high quality hybrid rice and selected small
grains in India and S.E. Asia;
• agro-chemical products with a safer and more environmentally
friendly profile to protect crops from damage inflicted by plant
parasitic nematodes.
Devgen's biopharmaceutical division develops a new class of
preclinical drug candidates, based on novel therapeutic
concepts, for treatment of a range of inflammatory and metabolic
disease (diabetes, obesity) and arrhythmia.
Devgen has entered into partnerships with industry leaders in
biotechnology and agro chemistry. Incorporated in 1997, Devgen
has offices in Ghent (Belgium), Singapore and Hyderabad (India),
with a total work force of about 100 people. Devgen is listed on
Eurolist by Euronext Brussels (ticker: DEVG) since June 2005. |
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