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Zwijnaarde, Belgium
May 8, 2009
Devgen's (Euronext
Brussels: DEVG) nematicide product obtained regulatory approval
in the US and will be promoted under the brand name Enclosure®.
First year sales will focus on Enclosure® usage in peanuts. The
USDA has estimated the annual economic loss in peanuts caused by
nematodes at 12%. Peanuts are an important global commodity with
an average US annual production well above 4 billion pounds
(about 1.8 billion kg) and a value of 800 million USD (EUR 600
million).
US peanut trials conducted by Devgen have demonstrated that the
use of its nematicide reduces nematode damage and increases
peanut quality and yield. In preparation for 2010 sales, Devgen
is conducting large demonstration trials for growers, besides
extra university/extension reference trials.
Enclosure® is based on the active ingredient Iprodione. The
discovery of Iprodione for use as a nematicide (patent pending)
was made through Devgen's proprietary genomic-based crop
protection technology. The product has been under development in
multiple countries by Devgen for the past 5 years.
Thierry Bogaert, CEO of Devgen says: "Devgen is pleased to offer
farmers a new solution to protect their crops from nematodes in
an environment where the options to treat against this serious
pest become more and more restricted."
Devgen's mission is to enable farmers to sustainably grow
more food on less land, with less water, agrochemicals and
labor.
Devgen uses advanced biotechnology and molecular breeding
technology to make high yielding seeds and crop protection
solutions with a superior environmental profile.
Devgen brings this technology to the market in the world's major
food and feed crops through two complementary strategies:
- Licensing Devgen technology for use in corn, cotton and soy
and selected other crops in exchange for R&D funding, and
milestone and royalty payments.
- Producing and selling its premium hybrid seeds in major field
crops such as rice, sunflower, sorghum, and pearl millet, in the
Indian subcontinent and S.E. Asia.
In its Crop Protection unit, Devgen develops a novel nematicide,
an agro-chemical product that protects crops from damage by
parasitic nematodes.
Incorporated in 1997, Devgen has offices in Ghent (Belgium),
Singapore, Hyderabad (India) and Delaware (US) and employs more
than 200 people.
Enclosure® is a registered trademark of Devgen nv. |
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