Biotalys Positive first field trial results with 2nd biocontrol BioFun-6

Biotalys announced strong results from field trials of its second biofungicide BioFun-6, which targets Botrytis and powdery mildew in fruits and vegetables. The trials showed BioFun-6 effectively controlled fungi compared to synthetic and biological solutions at lower dosage rates than Evoca. While further field trials still need to be conducted before a regulatory filing, we estimate BioFun-6 could reach the market by the end of the decade and reach a significant share of the today € 1.2bn market by the mid-2030s. We reiterate our € 5.2 TP and Buy rating.