Marrone Bio Optimizes Bioherbicide with New Bacteria Strains, Accelerates Product Development to Enter $27 Billion Herbicide Market¹
December 16 2021 - 8:00AM
Marrone Bio Innovations, Inc. (NASDAQ: MBII), has
acquired exclusive rights to high-performing strains of
Streptomyces acidiscabies, allowing for the accelerated
commercialization of a new, second-generation bioherbicide,
MBI-006. The addition of these strains, developed by and licensed
from Novozymes, a world leader in industrial enzymes and
microorganisms, will optimize MBI-006’s use rate, lower the cost of
production, and enhance performance. This development creates a
more competitive bioherbicide for MBI’s entry into the $27 billion
herbicide market where a growing number of herbicide resistant
weeds2 are costing U.S. and Canadian corn and soybean growers
upwards of $43 billion dollars a year.3
“Customer response to our bioherbicide pipeline has been
extremely positive. Herbicide resistance is a major concern among
farmers as there are over 250 weeds showing some herbicide
resistance, costing growers billions of dollars in crop damage
annually,” said Marrone Bio’s Chief Executive Officer Kevin Helash.
“Gaining access to these improved strains will accelerate our
ability to commercialize the active ingredient in MBI-006 and
provide growers with a much-needed sustainable tool for effective
weed management.”
“While our bio-ag efforts are focused on other biocontrol
projects, we believe Marrone is well-positioned to take the
development of these high-performing strains forward and
commercialize them,” said Thomas Stenfeldt Batchelor, Novozymes’
Vice President for Agriculture Marketing and Strategy. “As we
prioritize our bio-ag portfolio, out-licensing enables capable
third-parties to capitalize on our leading bioinnovation and allows
Novozymes to leverage and establish new business models for parts
of our technology that fall outside our core areas.”
MBI-006 provides an improvement in efficacy at lower rates over
MBI-005, the former herbicidal Streptomyces acidiscabies strain
developed and registered with the U.S. Environmental Protection
Agency and Canada’s Pest Management Regulatory Agency. This
biotechnological advancement will position the product at a more
competitive price point against leading commercial herbicides.
MBI-006 has an uncommon mode of action that inhibits the
formation and repair of plant cell walls. As a result, the
development of herbicide resistance is rare. The bioherbicide has
shown pre- and post-emergent efficacy on a wide spectrum of annual
broadleaves, grasses, and sedges and mixes well with most chemical
crop protection products and fertilizers.
“We are at an important juncture in the development of our
bioherbicide pipeline,” added Amit Vasavada, Ph.D., chief technical
officer and senior vice president of research and development for
Marrone Bio Innovations. “In addition to MBI-006, we have two other
proprietary bioherbicides in development, MBI-011 and MBI-014/015.
The latter has shown to have herbicidal activity that is estimated
to be 50-to-100 times more active than leading synthetic
alternatives. MBI-006 is just the beginning for what we believe
will likely be a growing portfolio of highly efficacious
bioherbicides.”
The first generation MBI-006 is expected to launch in 2024/2025
for organic and specialty crops, as well as turf, ornamentals and
the home and garden market. The second generation of MBI-006 will
be targeted at row crops, currently treated by synthetic chemistry,
and is anticipated to be commercially available in 2027/2028.
Sources:
- IHS Markit, Agrochemical Market Analysis, Industry Overview:
2020 Market.
- Purdue University, College of Agriculture, Extension Weed
Science.
- Weed Science Society of America.
About Marrone Bio
Innovations
Marrone Bio Innovations Inc. (NASDAQ: MBII)
is a growth-oriented agricultural company leading the movement to
environmentally sustainable farming practices through the
discovery, development and sale of innovative biological products
for crop protection, crop health and crop nutrition. Our portfolio
of 18 products helps customers operate more sustainably while
increasing their return on investment. The company’s commercial
products are sold globally and supported by a robust portfolio of
more than 500 issued and pending patents. Our end markets include
row crops; fruits and vegetables; trees, nuts and vines; and
greenhouse production. Marrone Bio’s research and development
program uses proprietary technologies to isolate and screen
naturally occurring microorganisms and plant extracts to create
new, environmentally sound solutions in agriculture.
Learn more about Marrone Bio Innovations at
www.marronebio.com. We also use our investor relations website,
https://investors.marronebio.com, as well as our corporate Twitter
account, @Marronebio, as means of disclosing material non-public
information, and encourage our investors and others to monitor and
review the information we make public in these locations. Follow us
on social media: Twitter, LinkedIn and Instagram.
Marrone Bio Innovations Forward Looking
Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve substantial risks and
uncertainties. All statements, other than statements of historical
facts, included in this press release regarding strategy, product
development, future operations and plans, including assumptions
underlying such statements, are forward-looking statements, and
should not be relied upon as representing the company’s views as of
any subsequent date. Examples of such statements include financial
guidance and other statements regarding the company’s future
revenue growth, margins, operating expenses, and other financial
results; adoption of the company’s herbicide products; and the
potential benefits and value of the company’s herbicide products.
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 the
recent uncertainty in the global economy and industry-specific
economy caused by the COVID-19 pandemic, consumer, regulatory,
weather and other factors affecting demand for the company’s
products, any difficulty in expanding the company’s sales and
marketing infrastructure or marketing the company’s products in
global markets, competition in the market for herbicide products,
lack of understanding of bio-based herbicide products by customers
and growers, adverse actions by distributors, manufacturers,
regulatory agencies and other relevant third parties. Additional
information that could lead to material changes in the company’s
performance is contained in its filings with the Securities and
Exchange Commission. The company 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 new information, future events or otherwise.
Marrone Bio Innovations Contact:Clyde
MontevirgenVice President of Business Development & Investor
RelationsTelephone: 530-750-2800info@marronebio.com
About Novozymes
Novozymes is the world leader in biological solutions. Together
with customers, partners and the global community, we improve
industrial performance while preserving the planet's resources and
helping build better lives. As the world's largest provider of
enzyme and microbial technologies, our bioinnovation enables higher
agricultural yields, low-temperature washing, energy-efficient
production, renewable fuel, and many other benefits that we rely on
today and in the future. We call it Rethink Tomorrow.
www.novozymes.com
NASDAQ OMX: NZYM-B • 6,500 employees • DKK 14,5 billion turnover
• 30+ industries • 700+ products
Media Relations |
|
|
|
North America
Frederik BjørndalPhone: +1 646 671 3897TFBH@novozymes.com |
GlobalLina
DanstrupPhone: +45 30 77 05 52LinD@novozymes.com |
|
|
Investor
Relations |
|
|
|
Tobias Cornelius BjörklundPhone:
+45 30 77 86 82TobB@novozymes.com |
Carl AhlgrenPhone: +1 919 702
6144CXAl@novozymes.com |
Marrone Bio Innovations (NASDAQ:MBII)
Historical Stock Chart
From Jun 2024 to Jul 2024
Marrone Bio Innovations (NASDAQ:MBII)
Historical Stock Chart
From Jul 2023 to Jul 2024