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Three Biological-Based Herbicides Enter Late-Stage Development Phases; Potential $27 Billion Market
DAVIS, Calif., Sept. 28, 2021 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (NASDAQ: MBII), an international leader in sustainable bioprotection and plant health solutions, is advancing three novel bioherbicides in its research and development pipeline, further strengthening its position as a leading provider of sustainable agricultural solutions. These biologically based herbicides are a key component of the company’s strategic growth plan, and provide entry into the $27 billion weed control market1.
“There is an urgent need for new, more sustainable alternatives given the vast number of herbicides with known cases of weed resistance and the lack of new modes of action,” Chief Executive Officer Kevin Helash said. “We believe our research can bring new options to our customers that will enhance performance and profitability, and provide a more environmentally responsible option for both conventional and organic farmers.”
Marrone Bio has three proprietary bioherbicides in its R&D portfolio. The first two, MBI-005 and MBI-011, have prior regulatory approval from the U.S. Environmental Protection Agency, and now are undergoing further formulation refinement. The third, MBI-014/015, has progressed to advanced stages of development. Current results indicate that MBI-014/015 has herbicidal properties estimated to be 50-to-100 times more active than leading chemical alternatives.
The MBI family of bioherbicides can control the most economically significant and resistant weeds, including annual broadleaves, grasses and sedges in major row crops as well as vegetable and turf markets. The products can be used at various points in the growing season to give farmers maximum flexibility to control weeds before, during and after planting.
From the more than 12,000 microbes screened, the company’s R&D team has discovered approximately 500 herbicidal microbes that can be advanced through genomics, bioinformatics and synthetic biology systems. This broad library of microbes can potentially lead to the discovery of additional novel active ingredients and new modes of action.
“These advancements further solidify our leadership position as the supplier of choice for farmers striving to meet the increasing demand for more responsibly grown food and fiber. Our family of bioherbicides exemplifies how we are aggressively advancing our pipeline to provide a meaningful return on investment to growers and investors alike,” said Chief Executive Officer Kevin Helash.
An overview of the company’s R&D program, including information on its herbicides, is available in a presentation on the MBI web site at www.investors.marronebio.com.
Source: 1IHS Markit, Agrochemical Market Analysis, Industry Overview: 2020 Market
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, 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 products; and the potential benefits and value of the company’s 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 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 pest management products, lack of understanding of bio-based pest management products by customers and growers, adverse actions by distributors, manufacturers, regulatory agencies and other relevant third parties and costs associated with any strategic acquisitions or other business opportunities we elect to pursue. 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.
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