- Soil biofumigation platform continues to show promising results across multiple continents.
- Postharvest activities in potatoes, fruits and vegetables have demonstrated initial efficacy and work is now focused on application, timing, dose rates and residues.
- Bioherbicide optimization and formulation work advances.
Saskatoon, Saskatchewan--(Newsfile Corp. - September 15, 2022) - MustGrow Biologics Corp. (CSE: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the "Company" or "MustGrow"), and its global agriculture partners continue to drive MustGrow's organic mustard-derived crop protection and food preservation technology forward through field trials, development work and regulatory approval strategies in key global agricultural regions. Publicly-disclosed programs include:
- Sumitomo Corporation
Exclusive evaluation agreement in the Americas for preplant soil fumigation, bioherbicide, postharvest and food preservation for potatoes and bananas. Sumitomo Corporation is funding and driving all field development, including toxicology, safety, efficacy, and regulatory work necessary for commercialization. (Press release link)
- Bayer
Exclusive evaluation agreement in Europe, Asia Pacific, Middle East and Africa for preplant soil fumigation, bioherbicide applications and postharvest food preservation of potatoes including sprout inhibition. The first year of the evaluation is focused on the pre-plant soil fumigant application. Bayer is funding and driving all laboratory, field, regulatory, and market assessments in the target regions. (Press release link)
- Janssen PMP, a division of Johnson & Johnson-owned Janssen Pharmaceutica NV
Global exclusive evaluation agreement for postharvest storage preservation of fruits and vegetables, excluding grains, potatoes, bananas and shipping container fumigation. Janssen PMP is funding and driving all application testing and development work. (Press release link)
- NexusBioAg, a division of Univar Solutions
Exclusive marketing and distribution agreement in Canada for canola (clubroot disease) and pulse crops (aphanomyces disease). NexusBioAg is funding and driving all field development and regulatory work necessary for commercialization. (Press release link)
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GLOBAL PROGRAM ADVANCEMENTS:
Soil Biofumigation
Sumitomo Corporation has continued to generate data across multiple crops, evaluating application timing, methods, and dose rates. Efficacy data generated across multiple countries and programs remains positive and has already resulted in new country expansions and program extension. MustGrow and Sumitomo Corporation are continually assessing market opportunities for further regional and application expansions. Utilizing MustGrow's platform technology, Sumitomo Corporation currently has field trials and regulatory development work ongoing in the US, Mexico, and Chile.
In the US, EPA product registration work continues to advance, with Sumitomo Corporation playing a pivotal role in the registration approval process. In addition, Mexico registration work is progressing forward, as there have now been two consecutive years of successful field trials with Sumitomo Corporation. Mexico is a key global agriculture region both in size and strategic location. In Chile, registration work has commenced with the country approving an Experimental Use Permit to Sumitomo Corporation and MustGrow for field testing and registration activities.
Bayer's initial laboratory and greenhouse studies utilizing MustGrow's mustard-derived technology have been promising. Building on these positive results, Bayer and MustGrow have new trials underway and further studies planned across Europe, Asia and Africa. Bayer is evaluating registration pathways for multiple regions.
Building on their 2021 field trial program for treatment of canola (clubroot disease) and pulse crops (aphanomyces disease), NexusBioAg and MustGrow signed an Exclusive Marketing and Distribution Agreement in Canada. NexusBioAg intends to trial MustGrow's technology in its 2023 BioAg Advantage program ("BAT"), which are wide-scale field trials conducted at the farmer level. NexusBioAg leverages its BAT program to introduce new and exciting potential 'portfolio' products to large Canadian farmers.
Postharvest Food Preservation
Harnessing MustGrow's mustard-derived biological agent as a postharvest fruit and vegetable application, Janssen PMP has demonstrated initial success in decay, fungal, and bacterial disease efficacy. Advancing to the next stage, Janssen PMP's testing program will focus on phytotoxicity, residues, application rates, application methods and dose timing. As food preservation is a critical global issue, reducing postharvest fruit and vegetable losses could substantially increase worldwide food availability.
MustGrow had previously tested its organic mustard-based technology and outperformed leading synthetic chemical standards for treatment of stored potatoes for both Fusarium dry rot disease and sprouting. No disease/sprouting combination solutions currently exist in the marketplace, making MustGrow's application unique in addressing both issues simultaneously. Leading sprout inhibiter chlorpropham (CIPC) had been banned by the European Union as of Oct. 8, 2020. Sumitomo Corporation is advancing this program in the US with trials and data review ongoing.
Bioherbicide
MustGrow's bioherbicide program is now focused on extraction optimization and formulation work. Perfomance and efficacy knowledge utilizing the mustard-derived Thiocyanate molecule, both internally and externally, has demonstrated potential impact as both a stand alone and combination herbicide in multiple markets. MustGrow is focused on production parameters, improving formulations for application flexibility, and the potential to combine MustGrow's bioherbicide with leading chemicals.
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About MustGrow
MustGrow is an agriculture biotech company developing organic biopesticides and bioherbicides by harnessing the natural defense mechanism of the mustard plant to protect the global food supply from diseases, insect pests, and weeds. MustGrow and its leading global partners -- Janssen PMP (pharmaceutical division of Johnson & Johnson), Bayer, Sumitomo Corporation, and Univar Solutions' NexusBioAg -- are developing mustard-based organic solutions to potentially replace harmful synthetic chemicals. Over 100 independent tests have been completed, validating MustGrow's safe and effective approach to crop and food protection. Pending regulatory approval, MustGrow's patented liquid products could be applied through injection, standard drip or spray equipment, improving functionality and performance features. Now a platform technology, MustGrow and its global partners are pursuing applications in several different industries from preplant soil treatment and weed control, to postharvest disease control and food preservation. MustGrow has approximately 49.2 million basic common shares issued and outstanding and 55.6 million shares fully diluted. For further details, please visit www.mustgrow.ca.
ON BEHALF OF THE BOARD
"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: (i) potential product approvals; (ii) anticipated actions by partners to drive field development work including dose rates, application frequency, application methods, and the regulatory work necessary for commercialization; (iii) expected product efficacy of MustGrow's mustard-based technologies; and (iv) expected outcomes from collaborations with commercial partners.
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, among others, the following: (i) the preferences and choices of agricultural regulators with respect to product approval timelines; (ii) the ability of MustGrow's partners to meet obligations under their respective agreements; and (iii) other risks described in more detail in MustGrow's Annual Information Form for the year ended December 31, 2021 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedar.com. 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 CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
© 2022 MustGrow Biologics Corp. All rights reserved.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137184
