Willow Biosciences Announces Biopesticide R&D Partnership

Willow Biosciences Inc. announced the launch of a funded engineering program with an innovative Ag-Biotech company in the biopesticide sector. The company is focusing on sustainable components in industrial production.

Willow President and Chief Executive Officer Dr. Chris Savile stated, "This is a truly exciting partnership for Willow, as it not only comes with significant near-term research and development and future commercial milestone payments, but also extends our technology and capabilities into the high-growth biopesticide sector." Dr. Savile continued: "I am once again impressed by our team and technology platform, which rapidly demonstrated proof of concept and is progressing toward a full development partnership."

On 26 June 2024, the Company announced the launch of a feasibility program with an innovative Ag-Biotech company operating in the biopesticide sector. Today, the Company announces that following successful completion of the feasibility phase, it has now signed a funded research and development agreement. The program is expected to take a minimum of 12 months to complete and is anticipated to generate USD 1.25 million in research and development revenue for Willow in the first 6 months and, subject to both parties deciding to proceed within the subsequent six months, an additional USD 1 million in research and development revenue with an extension option. If successful, following completion of the Program, the Company will receive significant commercial milestone payments that are tiered based on the new product's performance. The research and development required to complete the Program will be completed using existing facilities, equipment and staff and will require minimum additional cost and resources.

Biochemical pesticides are naturally occurring substances that enhance crop production by controlling pests through non-toxic, targeted mechanisms. According to Fortune Business Insights (fortunebusinessinsights.com, 22 July 2024), the global biopesticide market size is estimated to be USD 8.7 billion in 2024 and the annual compound growth rate is expected to be 15.9%. Biopesticides are typically safer and more environmentally friendly than conventional pesticides, but can be difficult to produce at large scale.

Willow develops bio-based processes for producing components for pharmaceutical, food and beverage, and consumer markets. Willow's FutureGrown™ and BioOxi™ platforms enable large-scale production with sustainability at its core. Willow's Research and Development team has a proven track record in developing and commercializing bio-based manufacturing processes and products that benefit our B2B partners and their customers.