Biotalys Announces Strategic Refocusing to Cut Costs
Biotalys, an agricultural biotechnology company listed on Euronext, has announced plans for a strategic refocus aimed at concentrating its resources on priority programs and streamlining its operations. This reorientation includes a reduction of 30 positions and a decrease in operating expenses.
Focusing on Key Biofungicide Programs
Biotalys plans to refocus its activities on its most advanced biofungicides, EVOCA NG and BioFun-6, while continuing to support its partnership programs: BioFun-7 with the Gates Foundation and BioIns-2 with Syngenta for insecticides. The company will also continue its development efforts to achieve commercially competitive manufacturing costs, leveraging its recently announced strategic partnership with 21st.BIO. The post-harvest market partnership with AgroFresh will be maintained. This refocusing is part of an approach to reduce risks associated with future commercialization efforts.
Organizational Restructuring and Cost Reduction
The company will undergo an organizational restructuring to align with the refocused strategy, including a reduction of 30 employees. The refocusing is expected to generate an estimated cash expenditure reduction of 20 million euros through the end of 2028 compared to the current operational structure. Biotalys confirms its cash runway until May 2026 and is in discussions with investors to explore financing options intended to support the reoriented portfolio.
