CEV and Ceradis Sign Biofungicide R&D Agreement

CEV, SA (CEV) was established in 2006, with the objective of developing a new patented protein-based fungicide. The active ingredient is a polypeptide, named BLAD, which is extracted from the germinated seeds of lupines. The polypeptide was discovered in 1991 at the Instituto Superior de Agronomia (ISA), Lisbon University, Portugal.  In 2007, the founders of CEV (the BLAD´s researchers) engaged four investors to finance the company. Those investors provided the necessary funds to research and develop the process and product, first at the laboratory and pilot plant scale, and later with the construction of the industrial plant and market introduction.  In January 2011, CEV created the subsidiary company CONVERDE,SA, whose main objectives were to install and operate the industrial plant and to be the responsible for product commercialization worldwide. The investment amounted to 33 million euros, and was financed by the investors, European funds (QREN) and banks.  The construction of the industrial plant was concluded in January 2013.  CEV is in charge of all R&D activities such as product registration, product development, patents management and development of potential new usages for BLAD.  As a biotech company, CEV maintains an intense R&D program on BLAD, aiming to extend its application scope.