Marrone Bio Optimizes Bioherbicide with New Bacteria Strains, Accelerates Product Development to Enter $27 Billion Herbicide Market¹
Marrone Bio Innovations (NASDAQ: MBII) has acquired exclusive rights to high-performing strains of Streptomyces acidiscabies, accelerating the commercialization of its second-generation bioherbicide, MBI-006. This strategic move aims to optimize MBI-006's production costs and enhance performance in the $27 billion herbicide market. With over 250 herbicide-resistant weeds causing significant financial losses for U.S. and Canadian farmers, MBI-006 offers a promising solution. The product is expected to launch in 2024/2025 for organic crops, with broader applications anticipated by 2027/2028.
- Acquisition of exclusive rights to high-performing strains enhances MBI-006's market competitiveness.
- MBI-006 expected to be more effective and cost-efficient than previous models.
- Projected launch of MBI-006 in 2024/2025 addresses urgent needs in the herbicide market.
- None.
DAVIS, Calif., Dec. 16, 2021 (GLOBE NEWSWIRE) -- 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
“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 Montevirgen
Vice President of Business Development & Investor Relations
Telephone: 530-750-2800
info@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
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FAQ
What is the significance of Marrone Bio Innovations' acquisition of <em>Streptomyces acidiscabies</em> strains?
When is MBI-006 expected to be launched?
How does MBI-006 address herbicide resistance issues?
What market opportunity does Marrone Bio Innovations see for MBI-006?
