Key Takeaways
- Biotalys shifts focus to second-generation AGROBODY™ technology under new CEO Kevin Helash.
- The company updates its product pipeline and undergoes significant organizational changes.
- Regulatory review of EVOCA™, the company’s first product candidate, is underway in the U.S. and E.U.
Strategic Shift to Biotalys’s AGROBODY™ 2.0 Technology
AGROBODY™ Platform Evolution
- Biotalys is advancing to the second-generation AGROBODY™ technology platform, enhancing its capabilities in developing protein-based biocontrols for crop and food protection. This strategic shift focuses on novel opportunities to identify potent bioactive ingredients for crop protection.
CEO Kevin Helash’s Vision
- Kevin Helash, CEO of Biotalys, emphasizes the need for the organization to deliver on two fronts: enhancing the potency and efficacy of bioactive agents through AGROBODY™ technology and ensuring a focused and cost-efficient operational setup.
Updated Product Pipeline of Biotalys
Key Focus Areas
- The company has revised its product pipeline, focusing on bio fungicides and bioinsecticides. This includes the continued development of EVOCA, a biofungicide targeting botrytis bunch rot and powdery mildew, as well as other biofungicide and bioinsecticide programs in collaboration with renowned partners like the Bill & Melinda Gates Foundation and Syngenta Crop Protection.
Organizational Changes and Cost Management
Executive and Management Restructuring
- The executive committee now includes CSO Dr. Carlo Boutton, CFO Douglas Minder, and others, with COO Luc Maertens and CBO Patrick McDonnell departing. The restructuring aims to consolidate roles and enhance focus on core capabilities.
Cost Reductions
- Biotalys is implementing a reduction in headcount and other measures to decrease operating expenses by approximately 10%. This is part of a broader strategy to manage costs more effectively, with the company revising its expected cash burn for FY 2023 to less than €20 million.
Regulatory Review of EVOCA™
Ongoing Evaluations
- In the U.S., the Environmental Protection Agency (EPA) is evaluating EVOCA™, with Biotalys actively engaging in the review process. In the E.U., the Dutch Board for the Authorisation of Plant Protection Products and Biocides (Ctgb) has completed its first review and requested additional information, marking progress in the regulatory journey.
Biotalys Latest News
Biotalys Appoints New CEO to Spearhead Next Growth Phase (2023/10/02)
Belgium-based AgTech firm Biotalys has appointed Kevin Helash as its new CEO and Director. Helash will succeed Patrice Sellès by December 2023. Sellès will remain in an advisory role for 30 days. Helash brings over 30 years of experience in the agricultural industry, having previously served as CEO at Marrone Bio Innovations and Agrinos, as well as a VP at Nutrien. The company is preparing to launch its first biocontrol product, Evoca, in the US market.
Biotalys H1 2023 Report: Innovations, Partnerships, and Progress in AgTech Biocontrol Solutions (2023/08/23)
Biotalys, an AgTech company specializing in protein-based biocontrol solutions, has reported its H1 2023 financial results and business achievements. The company highlights advancements in product development, technology, and strategic collaborations. Biotalys has partnered with Syngenta to develop a new bio-insecticide and achieved success with its first protein-based biocontrol solution, Evoca. The company has also strengthened its intellectual property rights and secured two additional patents. Biotalys is preparing for the commercial launch of Evoca in 2026, and its emphasis on creating safer tools for sustainable crop protection strategies underlines its mission to address the pressing needs of the agricultural sector.
Biotalys Raises €7 Million Through Private Investment (2023/06/07)
Biotalys NV has secured €7 million through a private investment in a public equity (PIPE) transaction. The transaction involves issuing 1,135,257 new shares, representing approximately 3.67% of the company’s shares outstanding before the transaction. The new shares will be paid for and delivered on Monday, 12th June 2023, after which they will be listed on Euronext Brussels. The funds will be allocated to expanding and advancing the company’s pipeline, platform development, market calibration, and acquiring key talent.
Biotalys’ Evoca Shows Promising Results in Field Trials for Crop Protection (2023/05/31)
AgTech firm Biotalys has revealed positive feedback from its field trials of the biocontrol product Evoca. Over 160 trials were conducted in collaboration with industry players throughout 2022, with the majority focused on using Evoca against Botrytis in grapes. The trials showed that Evoca delivered remarkable results and could serve as a sustainable alternative to chemical applications in IPM programs. The product was also tested on other high-value fruits and vegetables and demonstrated promising results. According to Biotalys, Evoca’s performance and reliability have laid the foundation for an upcoming line of next-generation biocontrols.
Biotalys Announces Douglas Minder to Become CFO (2023/04/15)
Biotalys (Euronext:BTLS) is an Agricultural Technology (AgTech) company that focuses on developing protein-based biocontrol solutions for crop and food protection. The company has announced that its Board of Directors has approved a succession plan under which Douglas Minder will be promoted to Chief Financial Officer (CFO), effective July 1, 2023. Minder will take over responsibility from Wim Ottevaere, who will continue to serve Biotalys in an advisory capacity after concluding his operational role. This move is part of the company’s growth ambitions, and the management team believes that Minder is an excellent choice for the role.
Biotalys Reports Its FY 2022 Results & Achievements (2023/02/28)
Biotalys, an agtech company specializing in biocontrols, reported its financial results for 2022. The company achieved significant progress in key areas, including establishing partnerships, breakthroughs in production, and obtaining regulatory approvals for its first bio-fungicide product, Evoca. Biotalys plans to launch the commercial version of Evoca in Europe in 2026 and expects its next generation to enter the market by 2026. The company’s pipeline of product candidates also progressed as planned, and new appointments were made to support its growth. The complete financial report will be published on Biotalys’ website on March 24, 2023.
Read their financial results here.
Biotalys Advances Manufacturing of Biocontrol Product Evoca (2023/01/26)
Biotalys has improved the production efficiency of Evoca’s bioactive ingredient by 50 to 70% in a year, by developing multiple proprietary yeast strains. Evoca is a bio fungicide that controls fungal diseases in various crops and has shown strong performance over 600 independent and company-driven field & greenhouse trials. Protein-based biocontrols like Evoca can increase production efficiency by 50 to 70% in only one year, reducing production costs and clearing the path to a market entry that is economically viable. Subject to regulatory clearance by the U.S. EPA, Evoca will initially be distributed in a handful of states in the U.S. while a commercial version is expected for 2026. Biotalys plans to further expand its I.P. portfolio and develop Evoca and its pipeline of biocontrols to substitute chemical pesticides.
