Bio-Gene Technology Limited announced Extension of the Licence and Development Agreement with Clarke for the United States and Cayman Islands. Under the updated agreement, Clarke has expanded rights to explore, develop and commercialise an insecticide solution comprising the use of Flavocide by professional pest managers for the residential mosquito control segment, in addition to its current access agreement for the public health mosquito control market. The US market opportunity with Clarke increased 150% with the extension, with total market valuation USD 250 million annually for applications granted to Clarke.

In line with existing commitments, with respect to the extension of applications, Clarke commits to the on-going investment to develop and register costs for new end use products. The extension triggered a milestone payment to Bio-Gene, which will be used to support registration studies.