- Bee Vectoring Technologies (BEE) announces a new Mexico regulatory submission as part of a planned geographic expansion
- The registration dossier was presented on April 19 this year at a meeting with COFEPRIS
- The dossier included CR-7 trial data already completed in Mexico and studies into human safety, environmental impact, product efficacy and more
- This application is part of a 2022 program to submit in up to four new jurisdictions allowing the company to increase its geographic footprint significantly
- BVT, an agriculture technology company, is a market disruptor with a significant global market opportunity in the $240 billion crop protection
- Bee Vectoring Technologies International Inc. (BEE) is up 2.44 per cent, trading at C$0.21 at 11:23 am ET
Bee Vectoring Technologies International (BEE) has submitted its proprietary Clonostachys rosea CR-7 (CR-7) biological fungicide for registration in Mexico.
The registration dossier was presented on April 19 this year at a meeting with COFEPRIS, the Mexican health authority responsible for registering plant protection products.
The dossier included CR-7 trial data already completed in Mexico and studies into human safety, environmental impact, product efficacy and more, as required to support product registration.
This application is part of a 2022 program to submit in up to four new jurisdictions allowing the company to significantly increase its geographic footprint and open new revenue streams.
“We’re anticipating a quicker review process as compared to chemicals in Mexico because CR-7 should be considered a low-risk product,” said Gerardo Suazo, Senior Technical Manager for Mexico at BVT.
“However, registration timelines with Mexican health authorities have been experiencing delays due to pandemic-related labour shortages and the backlog of submissions making it hard to predict review timing.”
“We’ve worked very closely with Mexico’s leading regulatory consultancy specializing in biological products,” continued Dr. Suazo.
“We are confident the dossier is complete and will be successful,” added Dr. Suazo.
Mexico’s growers offer significant market potential for BVT’s natural precision agriculture system: official statistics indicate that the country’s production in 2019 included 41,600 acres of strawberries, 12,100 acres of blueberries and over 377,000 acres of tomatoes and peppers.
In the same year, US imports of fresh and processed fruits and vegetables from Mexico amounted to US$15.6 billion.
“Mexico is a huge export market, and high-volume growers are keen to adopt low- or no-chemical solutions to fight diseases and increase crop yields,” said Ashish Malik, CEO of BVT.
“The country uses US$1.3 billion worth of pesticides each year, but an increasing number of growers are turning to biologicals as an alternative that offers better quality, greater food safety and reduces the need for chemicals,” added Malik.
BVT, an agriculture technology company, is a market disruptor with a significant global market opportunity in the $240 billion crop protection and fertilizer market.
BVT has pioneered a natural precision agriculture system that replaces chemical pesticides and wasteful plant protection product spray applications by delivering biological pesticide alternatives to crops using commercially grown bees.
Bee Vectoring Technologies International Inc. (BEE) is up 2.44 per cent, trading at C$0.21 at 11:23 am ET.