BioProspect cops Euro setback
Friday, 01 July, 2005
Brisbane natural pesticide developer BioProspect (ASX:BPO) faced a setback this week, after its potential European licensee, Germany's W Neudorff, declined to pursue development of BioProspect's eucalyptus-derived biocide for carpet beetles and clothes moths.
Neudorff cited concerns about the estimated cost of manufacturing and registering a formulated Qcide product for Germany and Europe.
Only three months ago, BioProspect received a similar knockback from another potential partner, Sumitomo Australia. At the time, Bioprospect said the Neudorff trials were "progressing very well".
In the wake of thefailed deal, the company said it was continuing with other confidential evaluation agreements in Australia and the US for the consumer goods and animal markets.
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