Ghent-based biotechnology is about to conquer America
By the end of the year Biotalys aims to submit the dossier to the EPA, the independent federal agency of the United States in charge of protecting public health and the environment for the approval and marketing of its first product, the biofungicide BioFun-1.
A biological alternative to chemical pesticides
The young biotech firm has developed with this product a biological alternative to the chemical pesticides currently used to combat the botrytis fungus that affects strawberries, grapes, tomatoes and other plants. The product can also extend the storage time. “We really are pioneers in the agricultural biotech industry. We innovate using a technology that no-one else has yet developed. We aren’t copycats”, says Chief Scientific Officer (CSO) Hilde Revets.
Biotalys – formerly known as Agrosavfe – was set up in 2013 as a spin-off of the Flemish Institute for Biotechnology. The company now has 50 employees, around 45 of whom work at the headquarters in Ghent. A team is still working in the United States to prepare for the marketing of the first product there.
Requested by consumers and governments
The biotech company hopes that its new, effective biological products – which are also safer for people and the environment – will capture a substantial share of the pesticides market, replacing conventional chemical substances. Such alternatives are needed, too, given the increasing resistance to chemical pesticides among consumers and governments. “The European Union is looking for alternative pesticides. In this sense, the European Green Deal is in marvellous thing for us”, says Chief Operating Officer (COO) Luc Maertens.
American market first
Nevertheless, the biotech company is setting its sights on the American market first. “This is simply because the European regulation process takes far longer and is far more complex. In Europe, it takes at least three to four years to obtain approval, compared with 18 months in the United States. So we will be able to start by launching our first biofungicide, BioFun-1, in the United States in 2022.”
A broad pipeline with various products
The end of the year is an exciting time, with the submission of the dossier for the approval of BioFun-1 in the United States. “But of course, ours is not a single product company”, Revets assures us. “We are developing a broad pipeline with various products that we can use to protect plants and crops against major fungi, bacteria and insects.”
Demonstrating value
For CEO Patrice Sellès, ensuring this pipeline is one of the biggest challenges straight away. “As with every biotech company, it takes a great deal of effort and substantial investments before there is enough income to stand entirely on our own two feet. At the same time, agricultural biotechnology, the field in which we work, receives far less attention than medical biotechnology. So another major challenge is to demonstrate to the rest of the world that our technology is very valuable.”
Attract additional capital
Until now it has been fine, because the biotech company is supported by various Belgian and international investors. “They support us in our growth and understand that developing a product pipeline requires major investments. But we are gradually coming to the point where we have to look at various possibilities to attract additional capital.” This is one of the challenges facing the new CFO straight away.