Bioprospecting Agreement

50,000.00

Bioprospecting (also known as biodiversity prospecting) is the exploration of natural sources for small molecules, macromolecules and biochemical and genetic information that could be developed into commercially valuable products for the agricultural, aquaculture, bioremediation, cosmetics, nanotechnology, or pharmaceutical industries. In the pharmaceutical industry, for example, almost one third of all small-molecule drugs approved by the Food and Drug Administration (FDA) were either natural products or compounds derived from natural products.

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Description

RA 9147 – SECTION 14. Bioprospecting. — Bioprospecting shall be allowed upon execution of an undertaking by any proponent, stipulating therein its compliance with and commitment(s) to reasonable terms and conditions that may be imposed by the Secretary which are necessary to protect biological diversity.

Any act of bioprospecting without the required Research Agreement and/or PIC Certificate as mandated under E.O. 247 shall be subject to criminal prosecution as may be proper under existing laws, including NIPAS Law of 1992 (R.A. 7586) and the Revised Forestry Code (PD 705), as amended.

 

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