VERANO Groundbreaking biocontrol solutions for a resilient agriculture

Summary

Pertinent is developing products that combine the effectiveness of chemical pesticides with the safety of biocontrol products.
Pertinent is applying to a blended funding program combining €2.5M of grants and €6M in direct investment to cover commercialization of its first products and its accelerated growth journey in the crop protection market. The funding coming from the EIC Accelerator Challenge 2023: Novel technologies for resilient agriculture will be critical to help Pertinent accomplish the following steps: conduct the final studies to lock the product formulation for EU and the US; register the active substance and get market authorisations; build a commercialization organization in the EU and US; successfully launch the selected products in the targeted crops for EU, USA and Brazil and Mexico; build production capabilities in France to supply the growing demand (€10M in CapEx); build a R&D lab to formulate the new products, test them and conduct analytical studies (€2M in CapEx).
The main milestones of the project are:
• 2024: Launch of first crop protection biocontrol products in California (grape vines and berries);
• 2025: Temporary market authorisation in Eu for sugar beets and grape vines; first launch in Mexico;
• 2028: Launch in Europe under full market authorisation.
Pertinent has already established a network of partners in Europe and in the USA that will support its business efforts and have written letters of support in R&D (Universities, testing labs), manufacturing (suppliers and contract manufacturers), field testing and validation (Technical institutes) and commercialization (Distribution agreement already signed for Europe with De Sangosse). Prominent investors have also expressed in written LOI their strong interest in participating in the next round of funding along the EIC.
The expected outcomes of the program are the successful launch of one or two products in the EU, the USA and Brazil and Mexico, generating €24.7M of sales in 2028.

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More information & hyperlinks

Web resources:	https://cordis.europa.eu/project/id/101166048
Start date:	01-07-2024
End date:	30-06-2028
Total budget - Public funding:	5 597 993,75 Euro - 2 499 999,00 Euro

Cordis data

Original description

Pertinent is developing products that combine the effectiveness of chemical pesticides with the safety of biocontrol products.
Pertinent is applying to a blended funding program combining 2.5M of grants and 6M in direct investment to cover commercialization of its first products and its accelerated growth journey in the crop protection market. The funding coming from the EIC Accelerator Challenge 2023: Novel technologies for resilient agriculture will be critical to help Pertinent accomplish the following steps: conduct the final studies to lock the product formulation for EU and the US; register the active substance and get market authorisations; build a commercialization organization in the EU and US; successfully launch the selected products in the targeted crops for EU, USA and Brazil and Mexico; build production capabilities in France to supply the growing demand (10M in CapEx); build a R&D lab to formulate the new products, test them and conduct analytical studies (2M in CapEx).
The main milestones of the project are:
2024: Launch of first crop protection biocontrol products in California (grape vines and berries);
2025: Temporary market authorisation in Eu for sugar beets and grape vines; first launch in Mexico;
2028: Launch in Europe under full market authorisation.
Pertinent has already established a network of partners in Europe and in the USA that will support its business efforts and have written letters of support in R&D (Universities, testing labs), manufacturing (suppliers and contract manufacturers), field testing and validation (Technical institutes) and commercialization (Distribution agreement already signed for Europe with De Sangosse). Prominent investors have also expressed in written LOI their strong interest in participating in the next round of funding along the EIC.
The expected outcomes of the program are the successful launch of one or two products in the EU, the USA and Brazil and Mexico, generating 24.7M of sales in 2028.