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."
The award comes just months after Oxitec reported success in trials controlling a population of the dengue mosquito in Brazil, and follows further research development in its agricultural products for the Mediterranean fruit fly, Olive fly and Pink Bollworm moth.
"It's particularly pleasing to have affirmation today not only of the innovative nature of our technology, but also that leading industry experts have recognised the significant environmental benefits we can offer," Mr Parry added. "Our products are uniquely targeted to the pest species in question: in short, it is an approach which is safe, effective and sustainable."
About Oxitec Ltd.
Oxitec is a pioneer in controlling insects that spread disease and damage crops. Its products build upon the use of the Sterile Insect technique (SIT), an effective, species-specific and environmentally friendly method of controlling harmful and damaging insects. Oxitec first products are for the control of Aedes aegypti, the mosquito species primarily responsible for transmitting dengue fever and Mediterranean fruit fly, one of the world's most damaging agricultural pests. Further information available at http://www.oxitec.com, FB Oxitec, Twitter @Oxitec
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Their "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure. Their Integrated Value Proposition provides support their clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.