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Bee Vectoring Technologies International Inc
Symbol C : BEE
Shares Issued 65,099,271
Close 2018-04-16 C$ 0.29
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Bee Vectoring receives U.S., Israeli technology patents

2018-04-16 10:33 ET - News Release

Mr. Ashish Malik reports

BEE VECTORING TECHNOLOGIES SECURES TWO NEW MILESTONE PATENT APPROVALS

Bee Vectoring Technologies International Inc. has received two new key patent application allowances:

  • U.S. patent application No. 15/092,968: This application received a notice of allowance and, upon issuance, will provide a second patent in the United States for the unique carrier formulation that allows beneficial microbes to be carried by bees. The second patent will expand protection of the formulation to include third party microbes.
  • Israeli patent No. 228762: This recently granted patent for the company's bumble bee delivery system is the first patent secured in Israel, a key market with a deep tradition for agricultural innovation.

The first U.S. patent on the carrier formulation focused on the company's own unique beneficial microbe, clonostachys rosea, which has a broad spectrum of control for various plant pathogens. The allowed claims of the second patent include claims that are not specific to any particular microbe to be used within the formulation, and so provide broader protection to the company as it explores the use of other beneficial microbes for delivery through its bee delivery system for crop protection and/or growth enhancement.

Israel is a significant innovation hub in agriculture and is widely considered to have the most significant silver start-up ecosystem outside of the United States. In addition to Agtech innovation companies, there are also some significant bumble bee producers in Israel that present potential partnership opportunities that the company is exploring. The granted patent further positions the company to work alongside these companies. Accordingly, the company believes that the Israeli market exhibits a unique opportunity to expand into additional markets via partnerships, and add an additional element into the commercialization strategy.

"These are significant patent approvals for the company as they allow us to continue advancing several business development discussions with potential partners," said chief executive officer, Ashish Malik. "For example, we have identified several other microbes that we will be evaluating for fit with our system, and having a patent protected formulation certainly gives us a competitive advantage as we open discussions with the partner companies."

The company is pursuing an aggressive intellectual property (IP) strategy that covers five different patent families and 60 patent applications worldwide. To date, 15 patents have been approved worldwide. The IP strategy supports the company's documented growth strategy to selectively expand its market opportunities while it drives toward commercialization of its proprietary system in the U.S.

About Bee Vectoring Technologies International Inc.

Bee Vectoring has developed and owns patent-pending bee vectoring technology that is designed to harmlessly utilize bumblebees and honeybees as natural delivery mechanisms for a variety of powdered mixtures comprising organic compounds that inhibit or control common crop diseases, while at the same time enhancing crop vigour and productivity. This unique and proprietary process enables a targeted delivery of crop controls using the simple process of bee pollination to replace traditional crop spraying, resulting in better yields, superior quality and less impact on the environment, without the use of water or disruptions to labour.

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