Two Marrone Bio Innovations products, MBI-110 Biofungicide and Haven Sunprotectant, approved for sale in Canada
January 09 2019 - 8:31AM
Marrone Bio Innovations Inc. (NASDAQ: MBII) (MBI),
an international leader in smart biopesticide and plant health
solutions, today announced that two of its products have been
approved for sale in Canada by the appropriate government agencies.
MBI-110 Biofungicide, (marketed in the U.S. as Stargus® for
specialty crops) was approved by the Pest Management Regulatory
Authority (PMRA). Haven® Sunprotectant was approved by the
Canadian Food Inspection Agency (CFIA).
According to Phillips McDougall, the Canadian
pesticide market totaled $1.7 billion in 2016 and is expected to
grow at a CAGR of 2.3% to $1.9 billion in 2021. While market
figures for the $2-3 billion global biostimulant market do not
break out Canada, growth of biostimulants in Canada, which includes
products like Haven, in Canada follows the growth trends of the
rest of the world at a 10-12% CAGR.
The active ingredient in Stargus is a new strain
of Bacillus amyloliquefaciens, a bacterium isolated by MBI
scientists from a soil sample in northern California. While this
type of Bacillus is common in soil, and other biological products
contain the same species, MBI’s discovery is unique in its high
performance on downy mildews, white molds, Fusarium and Botrytis
gray mold, which are particularly difficult to control with both
biologicals and chemicals. The bacteria in Stargus work by
colonizing plant root hairs, leaves and other plant surfaces,
thereby preventing establishment of fungal and bacterial pathogens.
The Stargus bacteria also produce natural compounds that inhibit
bacterial and fungal growth and spore germination. Further, the
bacteria trigger immune responses in the plant to ward off diseases
and increase growth and yield, creating a healthier and stronger
plant. In Canada, the approved label for Stargus is for the control
or suppression of various diseases on cucurbits, legume vegetables,
potatoes, grapevines, canola and sunflowers. MBI holds two
U.S. patents on the novel strain in the biofungicide product.
The active ingredient in Haven is an extract
derived from coconut. Use of Haven helps treated plants maintain
lower leaf temperatures and reduces heat stress on the crops,
resulting in higher yields and quality. When two-to-four
applications are sprayed on crops – generally starting at bloom,
shortly after bloom, or at early fruit/nut set – In commercial
usage, grower demos and third-party trials, Haven has shown to
reduce sun damage and increase yields and quality for certain apple
varieties, almonds, walnuts, soft berries, citrus, grapes and
tomatoes. Haven also has increased yields of corn, wheat and turf
grass. The Canadian label is approved for tree crops such as apples
pears, cherries, plums and peaches, nuts including filberts and
walnuts, fruiting vegetables such as tomato and pepper. One of the
most promising uses for Haven in Canada is apples, because Haven
helps to reduce bitter pit, which causes dark, ugly spots.
Both products will be available in Canada in
time for the growing season through selected distributors.
About Marrone Bio
InnovationsMarrone Bio Innovations Inc. (NASDAQ: MBII)
strives to lead the movement to more a sustainable world through
the discovery, development and sale of innovative biological
products for crop protection, plant health and waterway systems
treatment that support a better tomorrow for farmers, turf managers
and consumers around the globe. MBI has screened more than 18,000
microorganisms and 350 plant extracts, leveraging its in-depth
knowledge of plant and soil microbiomes, enhanced by advanced
molecular technologies, to rapidly develop seven effective and
environmentally responsible pest management products to help
customers operate more sustainably while uniquely improving plant
health and increasing crop yields. Supported by a robust portfolio
of more than 400 issued and pending patents around its superior
natural product chemistry, MBI’s currently available commercial
products are Regalia®, Grandevo®, Venerate®, Majestene®, Haven®
Stargus®, Amplitude™, Zelto® and Zequanox®. TerraConnect™ is MBI’s
new seed treatment and soil-applied platform.
More information about Marrone Bio Innovations
is available at www.marronebio.com. Follow MBI on social media:
Twitter, Facebook, LinkedIn and Instagram.
Marrone Bio Innovations Forward Looking
StatementsThis press release contains forward-looking
statements that involve substantial risks and uncertainties. All
statements, other than statements of historical facts, included in
this press release regarding strategy, future operations and plans,
including assumptions underlying such statements, are
forward-looking statements, and should not be relied upon as
representing MBI’s views as of any subsequent date. Examples of
such statements include the potential of the Haven and MBI-110
(Stargus) in Canada and the Canadian market potential. Such
forward-looking statements are based on information available to
the Company as of the date of this release and involve a number of
risks and uncertainties, some beyond the Company’s control, that
could cause actual results to differ materially from those
anticipated by these forward-looking statements, including weather,
regulatory and other factors affecting demand for the MBI’s
products, any difficulty in marketing MBI’s products in its target
markets, competition in the market for pest management products,
lack of understanding of bio-based pest management products by
customers and growers. Additional information that could lead to
material changes in MBI’s performance is contained in its filings
with the SEC. MBI is under no obligation to, and expressly
disclaims any responsibility to, update or alter forward-looking
statements contained in this release, whether as a result of
current information, future events or otherwise.
Press Inquiries:Jay
Austinjaustin@prizimus.com
Ag Trade Commercial Inquires:Alicia
GillmanDirector, CommunicationsMarrone Bio
Innovations480-889-4219AGillman@MarroneBio.com
MBI Investor Relations: Greg Falesnik Managing
Director MZ Group – MZ North America 949-385-6449
MBII@mzgroup.uswww.mzgroup.us
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