I am new here - BIOEXX was the reason to register here. This is the only board I could find with a reasonable amount of exchange and discussion about this stock. Although I have already realised that at this moment the management cannot say anything concrete about (hopefully) up-coming deals, particularely in Europe. And as far as I understood everything depends on the marketing authorisation as a novel food in Europe. It seems that BXI is the classical waiting game. All or fall, all or nothing. You may have realised already that my mother tounge is not English (it is German).
https://www.nutraingredients-usa.com/Research/BioExx-s-canola-proteins-Wholly-comparable-to-soy-protein-isolate
When I saw this article, it reminded me, several years ago when BURCON was on my radar in 2007. Burcon was pushed by some (paid) popular German stock market newsletters (PUMP and DUMP!). Quite some German small "investors" (really dump money) bought Burcon and lost.... I always liked the idea of utilizing the valuable protein from this enormous amount of by-product from the (rapeseed/canola) oil production. Fortunately, I never bought Burcon. It was too much pushed by these newsletters. BIOEXX seems to be different. Only maybe a handful of people in Europe in the food ingredient sector have ever heard about this company. This is rather positive for this stock. The recent weekend, I have spent many hours on this company, its history and its website. I understood from its website that Helm AG is Bioexx's partner in Europe. While I have never heard before about BIOEXX, Helm is a reasonable and serious player in Germany and Europe.
The science behind the above article is certainly not negative for canola proteins and BIOEXX, but I would not call it a break through and the real issue is another one:
You may know that novel foods and novel food ingredients (= BIOEXX protein mixes) require a Novel Food approval by (a) one Member State plus all other EU Member States agree (Ireland was satisfied, but severl other EU States were not) - OR - (b) the European Food Safety Agency (=EFSA) over-rules the verdict of the EU States. If the EFSA gives green light on the safety of BIOEXX proteins, the following marketing authorisation is a formality excetuted by the European Commission (though also this take some months).
I will provide you with more info on the regulatory procedure in Europe in the following weeks and months ahead. I am a bit familiar with it. I am working closely together with our regulatory staff. I am working in R&D of a midsize German ingredient company. I am interested in this stock - but it seems that there is little hurry:
https://registerofquestions.efsa.europa.eu/roqFrontend/questionsListLoader?panel=ALL
The link above is the link, where EFSA records ALL applications - at this moment, I cannot find anything related to rapseed or canola protein! This means to me that EFSA has not even received the application! Or maybe they have, but not registered yet. So you should watch this link until the we can see the entry - then we also will get an idea of the time frame for EFSA.
If you want to get an idea how long the procedure for an approval of a novel food at EFSA takes - click the link above, then at "food sector area" chose "novel foods. Normally the canola proteins of Bioexx/Helm should be recorded there (once EFSA starts with the evaluation).
If you scroll down there, you find many other novel foods, many of them have been finished. When you click on the individual applications, you can even find the "acceptance date" and the "date of adoption". I clicked on many of them, to get an idea on how long the EFSA takes. My estimate is that the average was about almost one year, a very few of them took only 5-6 months, which seems to be best case scenario for BIOEXX, some other applications took almost two years! So it seems that the procedure has no common deadline - like for example the GRAS notice has in the US. It could make sense to make a little statistic about (positive/negative) outcome of EFSA's ruling to get an idea on the chances for BIOEXX. I intend to do so in the weeks ahead, before I put substantial money into this stock.
I also intend to provide you with some more details on the EU procedures in the coming weeks and months, but for today, I have also a few question:
1. Given the shortage of money BIOEXX suffers from, how long can BIOEXX survive, pay salaries, maintance of the facilities, fees for the stock exchange etc..?.
2. Can BIOEXX survive the next 5-6 months (best case scenario) without the approval by EFSA (which seems to be the pre-condition for any substantial deal in Europe?
3. I realise that Bioexx has the GRAS notice for its two protein mixtures. Why there is no big deal in the USA which generates cash flow?
I have been on BIOEXX website and went to many (though not all) links. I also listended to the tele-conference of November 2012. It seems that all emphasis is put on Europe, what about Canada & US? If it was not sucessful in America, why should it be in Europe? Is it because the focus is entirely in Europe and the marketing approval by the EU and so there is no money for marketing canola proteins in the US ? I
Foodhawk