MustGrow Provides 2024 Pipeline Update
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) has provided its 2024 pipeline update, marking a significant transition from R&D to commercialization. Key highlights include:
1. TerraSante™ biofertility product: Initial sales have commenced in key U.S. states, with potential for full-scale sales ramp-up in 2025 and 2026.
2. TerraMG™ soil biopesticide: Commercialization is progressing under the Bayer agreement for Europe, Middle East, and Africa. Registration work continues in the U.S. and Canada.
3. Intellectual property portfolio has grown to 112 issued and pending patents.
4. Expiration of exclusive non-commercial agreements with NexusBioAg, Janssen PMP, and Sumitomo
The company is focusing on delivering commercialization of its products, validating efficacy through sales, and driving global expansion.
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) ha fornito un aggiornamento sulla sua pipeline per il 2024, segnando una transizione significativa dalla R&S alla commercializzazione. Punti salienti includono:
1. Prodotto di biofertilità TerraSante™: Le vendite iniziali sono già partite in alcuni stati chiave degli Stati Uniti, con potenziale per un'implementazione su larga scala nelle vendite nel 2025 e 2026.
2. Biopesticida per il suolo TerraMG™: La commercializzazione sta procedendo sotto l'accordo con Bayer per Europa, Medio Oriente e Africa. I lavori di registrazione continuano negli Stati Uniti e in Canada.
3. Il portafoglio di proprietà intellettuale è cresciuto a 112 brevetti concessi e in fase di attesa.
4. Scadenza degli accordi esclusivi non commerciali con NexusBioAg, Janssen PMP e Sumitomo.
L'azienda sta concentrando i suoi sforzi sulla commercializzazione dei propri prodotti, convalidando l'efficacia attraverso le vendite e promuovendo l'espansione globale.
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) ha proporcionado una actualización de su pipeline para 2024, marcando una transición significativa de I+D a comercialización. Los aspectos destacados incluyen:
1. Producto de biofertilidad TerraSante™: Se han iniciado las ventas en estados clave de EE. UU., con el potencial de un aumento en las ventas a gran escala en 2025 y 2026.
2. Biopesticida para suelo TerraMG™: La comercialización avanza bajo el acuerdo con Bayer para Europa, Medio Oriente y África. El trabajo de registro continúa en EE. UU. y Canadá.
3. El portafolio de propiedad intelectual ha crecido a 112 patentes otorgadas y pendientes.
4. Vencimiento de los acuerdos exclusivos no comerciales con NexusBioAg, Janssen PMP y Sumitomo.
La compañía se está enfocando en la comercialización de sus productos, validando su eficacia a través de las ventas y promoviendo la expansión global.
머스트그로우 생물학 주식회사(MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF))는 2024년 파이프라인 업데이트를 제공하며 R&D에서 상용화로의 중요한 전환을 알렸습니다. 주요 하이라이트는 다음과 같습니다:
1. TerraSante™ 생물 비료 제품: 미국 주요 주에서 초기 판매가 시작되었으며 2025년과 2026년에 본격적인 판매 증가 가능성이 있습니다.
2. TerraMG™ 토양 생물 살충제: 유럽, 중동 및 아프리카를 위한 Bayer 계약 아래 상용화가 진행되고 있습니다. 미국 및 캐나다에서 등록 작업이 계속되고 있습니다.
3. 지식 재산 포트폴리오가 112개의 발급 및 대기 중인 특허로 증가했습니다.
4. NexusBioAg, Janssen PMP 및 스미토모와의 독점 비상업적 계약 해지.
회사는 제품 상용화에 집중하고 있으며, 판매를 통한 효능 검증 및 글로벌 확장을 추진하고 있습니다.
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) a fourni une mise à jour de son pipeline pour 2024, marquant une transition significative de la R&D à la commercialisation. Les principaux points forts comprennent:
1. Produit de biofertilité TerraSante™ : Les ventes initiales ont commencé dans des États clés des États-Unis, avec un potentiel d'augmentation des ventes à grande échelle en 2025 et 2026.
2. Biopesticide pour le sol TerraMG™ : La commercialisation progresse sous l'accord avec Bayer pour l'Europe, le Moyen-Orient et l'Afrique. Les travaux d'enregistrement se poursuivent aux États-Unis et au Canada.
3. Le portefeuille de propriété intellectuelle a augmenté à 112 brevets délivrés et en attente.
4. Expiration des accords exclusifs non commerciaux avec NexusBioAg, Janssen PMP et Sumitomo.
L'entreprise se concentre sur la commercialisation de ses produits, en validant leur efficacité par le biais des ventes et en favorisant l'expansion mondiale.
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) hat ein Update zu seiner Pipeline für 2024 bereitgestellt und damit einen bedeutenden Übergang von Forschung und Entwicklung zur Kommerzialisierung markiert. Wichtige Highlights sind:
1. TerraSante™ Bio-Dünger Produkt: Die ersten Verkäufe haben in wichtigen US-Bundesstaaten begonnen, mit Potenzial für einen vollständigen Verkaufsanlauf in 2025 und 2026.
2. TerraMG™ Bio-Pestizid für den Boden: Die Kommerzialisierung schreitet unter dem Bayer-Vertrag für Europa, den Nahen Osten und Afrika voran. Die Registrierung arbeitet weiterhin in den USA und Kanada.
3. Das Portfolio an geistigem Eigentum ist auf 112 erteilte und anhängige Patente gewachsen.
4. Ablauf der exklusiven nicht-kommerziellen Vereinbarungen mit NexusBioAg, Janssen PMP und Sumitomo.
Das Unternehmen konzentriert sich darauf, die Kommerzialisierung seiner Produkte voranzutreiben, die Wirksamkeit durch Verkäufe zu validieren und die globale Expansion voranzutreiben.
- Initial sales of TerraSante™ have commenced in key U.S. states
- Potential market opportunity for TerraSante™ covers an estimated 355,000 acres, with potential for 850,000 to 1 million acres per year application
- TerraMG™ commercialization progressing under Bayer agreement for Europe, Middle East, and Africa
- Intellectual property portfolio has grown from 84 to 112 issued and pending patents
- Transition from R&D to commercialization phase
- Registration work for TerraMG™ still ongoing in U.S. and Canada
- Expiration of exclusive non-commercial agreements with NexusBioAg, Janssen PMP, and Sumitomo
- MustGrow transitions from R&D to commercialization.
- TerraSanteTM biofertility product manufacturing and sales has commenced, with potential initial sales ramp-up in 2025 and 2026.
- Commercialization of TerraMGTM soil biopesticide is progressing under the Bayer commercial agreement in the EU, Middle East and Africa.
- Registration work for TerraMGTM soil biopesticide continues in the U.S. and Canada.
- Expiration of exclusive non-commercial agreements.
- Intellectual property portfolio continues to grow.
- Management presentation and Q&A set for Tuesday September 24, 2024.
Saskatoon, Saskatchewan--(Newsfile Corp. - September 23, 2024) - MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the "Company" or "MustGrow") is pleased to provide its 2024 pipeline update. The Company is a leader in innovative biological nutrition and crop protection solutions from mustard and today announced significant developments in the commercialization of its flagship products, TerraSanteTM and TerraMGTM, as the Company advances its efforts to transform sustainable agriculture.
TerraSanteTM: Initial Sales and Market Opportunity
MustGrow is pleased to announce that TerraSanteTM is in the initial stages of commercialization, with product registration successfully obtained in key high value crop growing U.S. states, including California, Florida, Arizona, Idaho, Oregon, and Washington. The Company is receiving purchase orders and sales have commenced, marking a major milestone for the Company.
To assist in executing the direct sales and marketing strategy in the U.S., MustGrow engaged the services of two key industry veterans, Tim Lichatowich and Mike Atkins, who have close to six decades of combined experience in the fruit, vegetable and row crop markets.
"We are seeing strong initial interest in TerraSanteTM, particularly in California, where the market demand for a product like MustGrow's is significant," said Mike Atkins. Tim Lichatowich, who led multiple grower and industry meetings in California throughout 2024 also commented, "The potential for TerraSanteTM is even greater than we anticipated, with opportunity for multiple applications per year over large acreages."
Key highlights of TerraSanteTM's market progress include:
- Initial Sales: Sales have commenced in the U.S., following registrations in several key fruit & vegetable growing states.
Potential Market Opportunity: To date, MustGrow's representatives are in direct contact with production companies covering an estimated 355,000 acres. These acres support multiple crops per year, therefore, there is potential for multiple applications of TerraSanteTM annually. Sales volume from multiple applications is beyond what was initially anticipated, and as such, the 355,000 acres could potentially translate into 850,000 to 1 million acres per year application potential. This is just on a small fraction of the estimated 5.6 million acres of high value crops in the US (fruit & vegetable; tree, nut & vine; root & tuber).
Potential Future Growth: For 2024 and 2025, initial sales and successful customer testing results will drive sales growth. Commercial sales and data on product performance is expected during the upcoming winter and spring. From there, management anticipates a full-scale sales ramp-up in 2025 and 2026.
TerraSanteTM Production Update
Manufacture of TerraSanteTM started in 2023 with MustGrow's first commercial production run. MustGrow is actively planning for larger-scale production to meet anticipated demand. The Company is exploring various production options, including existing and expanded contract manufacturing partnerships.
"This is a very exciting time for MustGrow with actual production and sales," said Corey Giasson, MustGrow's President & CEO. "A few years ago, I mentioned that MustGrow was going to start the commercialization process. Well we did, and what you are witnessing is the transformation of the Company from being strictly an R&D company to now one with product sales. Our goal with TerraSanteTM, and other future registered products such as TerraMGTM, is to not only produce enough product to meet demand but do so in a cost-effective manner so as to increase margins and return on investment. You can be rest assured, that MustGrow's management focuses on this each and every day."
TerraSanteTM for Soil and Ecological Health
MustGrow's soil amendment and biofertility development programs focus on soil and soil microbiome health, nutrient and water use efficiencies, and plant yields. Soil is a farmer's most valuable asset, and MustGrow's mustard plant-based technologies are being developed with the intention to improve not only the health of the soil, but also the surrounding ecological environment.
As an organic biofertilizer in wettable powder form, TerraSanteTM contains nutritious plant proteins and carbohydrates that feed the soil and soil microbes, potentially improving beneficial microbial activity and ensuring long-term sustainable soil health. These targeted micro-communities have been shown to work to improve nutrient availability, which can potentially increase plant vigor and yields, while reducing plant stress. TerraSanteTM has the potential to improve crop nutrient uptake and, hence, overall crop performance. There are no artificial additives or preservatives used during its manufacturing.
TerraMGTM: Progress with Bayer
TerraMGTM's commercialization is progressing under MustGrow's commercial agreement with Bayer for Europe, the Middle East, and Africa. While registrations are still in process in the US and Canada, MustGrow is encouraged by the ongoing work and progress being made alongside Bayer in the EU.
"We are very pleased with how things are proceeding with Bayer and they have been a great partner," said MustGrow's CEO. "Field trials are continuing in multiple countries and regions, and Bayer's technical, regulatory, production, sales and marketing teams are providing excellent support as we work to advance TerraMGTM under the commercial agreement."
Key developments for TerraMGTM under the Bayer commercial agreement include:
Signing of the Bayer Commercial Agreement: This agreement, signed in December 2023, includes licensing for Europe, the Middle East, and Africa, and included an upfront payment as well as milestone payments to MustGrow for development and registration work.
Field Trials and Technical Success with Bayer: Field trials and technical evaluations continue to yield positive results for both nematode and disease treatment, with the next program review scheduled for the end of October at the Annual Biocontrol Industry Meeting ("ABIM") meeting in Basel.
Assessing Future Production for Bayer: MustGrow and Bayer are also focusing on sourcing raw materials and scaling production capabilities for future sales and growth.
TerraMGTM in U.S. and Canada
TerraMGTM registration work continues to progress in the U.S. with the Environmental Protection Agency ("EPA") and in Canada with the Pest Management Regulatory Agency ("PMRA"). MustGrow continues to work closely with regulatory agencies and consultants and management remains committed to continuing these registrations.
Exclusive Non-Commercial Agreements
MustGrow is announcing expiration of the exclusive non-commercial agreements with NexusBioAg, Janssen PMP and Sumitomo Corporation. The Company collected substantial data and market analysis through these agreements and will now move forward on a non-exclusive basis with multiple parties to commercialize these opportunities.
Intellectual Property Portfolio
MustGrow continues to build its intellectual property portfolio, with 112 issued and pending patents, even as the Company pivots from R&D toward commercialization. This is up from 84 total patents issued and pending in March of 2023.
The intellectual property pipeline continues to grow through MustGrow's own work as well as collaborations with university, government and other research groups. Expanded infield applications of existing formulations as well as new active ingredients are generating new product and patent opportunities. Most recently, the Company and Agriculture and Agri-Food Canada announced funding to explore the possibilities of MustGrow's mustard extracts in the human and animal health area.
Future Roadmap
Looking ahead, MustGrow's 2024-2025 roadmap focuses on delivering the commercialization of TerraSanteTM and TerraMGTM, validating product efficacy through sales, and driving global expansion. The Company is committed to fostering its partnership with Bayer and securing new commercial partners in non-commercialized territories, including Mexico, South America, and Asia.
"We are evolving as a Company, and sales, margins and return on investment will become key drivers for our growth moving forward," said Mr. Giasson. "While blue-sky opportunities remain important, our focus will shift towards delivering on our commercial potential."
Management Presentation and Q&A
MustGrow is pleased to invite investors and other interested parties to attend an upcoming interview with Market Radius Research. The Company's CEO Corey Giasson and COO Colin Bletsky will be presenting an update and taking any questions for the audience. The webinar will be a live, interactive online event where attendees are invited to ask the Company questions in real-time following the interview. An archived webcast will be made available for those who cannot join the event live on the day of the webinar.
- Event: Radius Research Pitch, Deep Dive, and Q&A with MustGrow Biologics (MGRO)
- Presentation date & time: Tuesday, September 24th @ 4 PM ET
- Registration link:
https://us02web.zoom.us/webinar/register/5817266800122/WN_O30xI1NtRAWT_FRvMy0hqA
Market Radius Research gives individual investors access to in-depth CEO interviews with deep-dive institutional level discussion and Q&A. Market Radius is hosted by Martin Gagel, former top-ranked technology analyst. By registering for this webinar, you agree to receive email communications from Market Radius Capital, Inc. and from the presenting company (with unsubscribe). Your email will not be further shared. Martin Gagel and Market Radius Capital, Inc. are not registered or licensed to provide investment advice and may own shares in mentioned companies and may be compensated for these services. Content is for information purposes only and is not advice or recommendations and may include incomplete or incorrect information. Investing entails a high degree of risk. This is a production of Market Radius Capital, Inc.
About MustGrow
MustGrow is an agriculture biotech company developing organic biocontrol and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world. The Company has a registered and organically certified biofertility product call TerraSanteTM in key U.S.-states including California. Registrations of TerraSanteTM are owned by MustGrow and production and sales of TerraSanteTM has commenced with ramp-up slated to begin in 2025 and 2026. Commercialization is also occurring under biocontrol, with Bayer signing on under a Commercial Licensing agreement in December 2023 for the TerraMGTM soil biopesticide in Europe, the Middle East and Africa. MustGrow estimates that Bayer will spend US
Contact Information
Corey Giasson
Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca
MustGrow Forward-Looking Statements
Certain statements included in this news release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: its commercialization strategy; its continuing efforts towards further state-level registrations; TerraSanteTM ability to improve beneficial microbial activity; the ability of TerraSanteTM to increase plant vigor and yields; and the ability of TerraSanteTM to improve crop nutrient uptake. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow. Important factors that could cause MustGrow's actual results and financial condition to differ materially from those indicated in the forward-looking statements include market receptivity to investor relations activities as well as those risks described in more detail in MustGrow's Annual Information Form for the year ended December 31, 2023 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available on SEDAR+ at www.sedarplus.ca. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.
This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.
Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.
© 2024 MustGrow Biologics Corp. All rights reserved.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224296
FAQ
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