Vestaron Corporation

Venomous Venture

Written by Administrator
Monday, 18 August 2008 05:00

Monday, August 18, 2008 - LabWork
By Karen Gentry | LabWork
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KALAMAZOO - Identification of small peptides found in the venom of spiders forms the basis for
Venomix Inc., a startup life sciences technology company in Kalamazoo.

Venomix plans to develop a new generation of insecticides using research conducted by Dr.
Glen King from the University of Connecticut. World-renowned scientist John Mclntyre Ph.D. is
the CEO of the new agriculture-based company.

Mclntyre said 1,200 peptides have been found in certain spiders and a unique subset of these
peptides has a high level of insect activity. Products under development have a unique mode of
action, are highly effective against insects and related pests and are harmless to non-target
species, including humans. Venomix is unraveling the secrets of spider venom in a search for
effective, toxin-based insecticides that are environmentally benign.

"The company was founded to develop that core technology into commercial insecticide
products for a broad range of applications in agriculture, animal health and public health,"
Mclntyre told LabWork.

Mclntyre met with Dr. King and the U-Conn Research and Development Corp., which initiates
new business startups based on innovative technologies developed by U-Conn faculty and staff.
Dr. King's patented technology is licensed exclusively to Venomix.

Mclntyre said the peptides, which are molecules formed by joining two to 50 amino acids,
have been fully characterized.

"We know their structure - a very specific active site that is critical for beginning to result
in insect death," Mclntyre said. "So we have fully characterized, unique insecticidal
agents."

He said in the past other commercially sold insecticides tended to target the same activity
site in insects and resistance would develop quickly.

"Because our insecticides have different modes of action, we expect resistance in the insect
population to develop much more slowly," Mclntyre said. Insecticides based on spider venom
peptides circumvent the problems of resistance and cross-reactivity in conventional
insecticides by targeting entirely new metabolic pathways. The peptides as insecticides will be
made into commercially acceptable formulations for appropriate markets.

Mclntyre said he expects the environmentally conscious insecticides will be ready for field
testing by next year with commercial products available by late 2011 or early 2012.

"We are still characterizing the breadth of insect activity that will help us focus on which
market we want to prioritize," said Mclntyre, noting it's critical to stay highly focused to
make the best choices moving forward.

Venomix currently has six full-time employees and a number of consultants. Mclntyre has
been the CEO of high technology, agriculture biotech companies for more than 14 years and an executive in agricultural biotechnology. He began his career as an
agricultural research scientist before transitioning to the business side.

Educating investors about the opportunities in the agriculture-biotechnology arena has been a
challenge, Mclntyre said. In life sciences, there are many players in Pharmaceuticals or
medical devices but not many in agriculture. Part of Mclntyre's job is to help investors
understand the opportunities for an agriculture-based life sciences company and "recognize
we have a chance for an environmentally compatible insecticide."

Mclntyre said the first round of funding came from Ann Arbor Spark with another round of
funding from Illinois-based Open Prairie Ventures. Substantial funding for Venomix came from
Southwest Michigan First's $50 million life sciences fund. Venomix is also working with
Chempura Corporation as a commercial partner to develop peptides for an agriculture product.

Southwest Michigan First CEO Ron Kitchens said Venomix is the first agriculture
company funded by his organization. Southwest Michigan First reviews about 100
business plans a year and funds only four or five.

Kitchens said that Mclntyre's leadership with the company was critical because he is a wellregarded
scientist. Venomix was selected because its science .made sense, the marketability of
products to be developed was sound and it has solid leadership.

World-class science is necessary to make it through Southwest Michigan First's due
diligence and Kitchens supports Venomix's new class of insecticides.

"It's an organic process. We believe there will be more and more demand for this type of
product over traditional petroleum-based products, which adds to the marketability and
potential of the company," Kitchens told LabWork.

Venomix is located in the Southwest Michigan Innovation Center incubator laboratory space.
Mclntyre said the support from Southwest Michigan First has been excellent and the company
is enjoying the comfortable surroundings.

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This article appeared in the Monday, August 18, 2008 issue of MiBiz, read by upper management executives in West and Southwest Michigan. Print subscriptions are free to qualified individuals who are employed in West and Southwest Michigan. For further information about MiBiz, visit www.rnibiz.com.