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Investing.com -- Biotalys shares rose 14% after the U.S. Environmental Protection Agency (EPA) issued a proposal to register the company’s first protein-based biofungicide.
The EPA will now begin the final phase of regulatory review, allowing stakeholders, including farmers, to provide feedback within a 15-day period before finalizing the regulatory decision.
This development represents a significant milestone for Biotalys, as its Evoca product serves as a crucial test case for the company’s entire business model. Biotalys focuses on researching and developing protein-based fungicides and insecticides through its Agrobody platform.
The company has established partnerships with Novonesis and AgroFresh to produce and distribute its biological plant protection agents.
Kepler analysts noted that this achievement marks "a clear breakthrough for the investment case." They explained that investors have been awaiting this announcement, as Biotalys had previously conducted successful research and development but had no products in the market.
With the EPA approval in progress, and European Union approval likely to follow, Biotalys is positioned to finally bring its product to market.
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