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TheStreet Open House

Oxitec Recognised By Prestigious Frost And Sullivan Award For Its Pioneering System Of Pest Control

OXFORD, England, April 9, 2013 /PRNewswire/ --

Oxitec is pleased to announce that it has been awarded the 2013 Europe New Product Innovation Award by Frost & Sullivan, in recognition of its groundbreaking and environmentally-friendly approach to pest control.

Frost and Sullivan describe Oxitec's leading-edge pest control products as "the most environmentally-friendly and sustainable approach to pest control currently available". The award was conferred after in-depth market research and assessment, which was independently initiated and conducted by Frost and Sullivan's expert industry analysts.

Oxitec's innovative approach harnesses genetic technology to create 'sterile' insects, as a means of controlling populations of insect pests. Its products offer an effective new approach to combating human health threats such as the dengue mosquito, Aedes aegypti, as well as important agricultural pests such as the olive fly, Mediterranean fruit fly and Diamond-back moth, which have significant economic impact in Europe and around the world.

Oxitec's approach is "an eco-friendly technology" which "comes at a critical junction when other green innovations are reaching the end of their lifecycle" - according to Frost and Sullivan industry analyst Krishna Venkataramani, adding that Oxitec's products "will enable crop growers to boost production and prevent crop loss to pests in an environmentally safe and sustainable manner. In addition, Oxitec insects all contain a protein marker that means that they can be easily and accurately monitored in the field. This allows both operational feedback and environmental monitoring. This is not the case with any other product in this market."

Commenting on the award, Oxitec Chief Executive Hadyn Parry said:

"We are absolutely delighted to receive this award. At Oxitec we have spent over 10 years researching and developing products which we believe offer real benefits to human health and to agriculture, so to have that achievement recognised by such a prestigious award is great news."

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