About 3 million commercial honeybee colonies in the United States contribute to pollinating more than 100 crops annually that are worth an estimated $15 billion. The parasitic Varroa destructor mite, which many beekeepers consider to be the top threat to honeybees, reproduces in hives, feeds on honeybees, and spreads disease, destroying colonies across the globe. Having acquired the rights to Bayer’s RNA intellectual property portfolio for bee health, we are developing our RNA-based syrup that targets reproductive Varroa mites, degrades in soil and water, is easy to use, and adds another tool for beekeepers looking for more options.
The product candidate has been tested in field trials in several states, and was submitted to the EPA in early 2023 for review. The data from our trials to treat Varroa mite infestation in beehives supports our progress toward commercialization.
Subject to regulatory approval, we plan to launch our Varroa destructor mite-control product in 2024.
