Botry-Zen calls in receivers
The New Zealand biopesticide company, Botry-Zen (Dunedin), has called in the receivers after failing to raise the NZ$1.5 million (US$1.1 million) from shareholders needed to continue operations. The New Zealand stock exchange suspended trading in Botry-Zen shares on December 23rd. The company was seeking to raise capital for the construction of four new fermenters to increase biopesticide production for domestic and international markets. Botry-Zen recently received US approval for its biofungicide, Botry-Zen ( Ulocladium oudemansii US strain 45% - Agrow No 579, p 16).