First Approved Plant Extract-Based Fungicide in Brazil Brings Growers New Solution for Protecting Against Disease, Resulting in Higher Quality and Yields
December 17, 2014, DAVIS, CA — Marrone Bio Innovations, Inc. (MBI), (NASDAQ: MBII), a leading provider of bio-based pest management and plant health products for the agriculture, turf and ornamental and water treatment markets, today announced that its REGALIA® MAXX Biofungicide has received a product registration from Brazil’s Ministry of Agriculture (MAPA). Brazil now joins Peru, El Salvador, Guatemala, Honduras, Panama, Columbia, the Dominican Republic and Mexico as Latin American countries having approved the use of REGALIA MAXX to control a wide variety of bacterial and fungal diseases across an array of agricultural crops.
REGALIA MAXX is the first plant extract-based fungicide approved in Brazil and is the first biopesticide with Induced Systemic Resistance (ISR), a complex mode of action which creates a defense response in the treated plants and stimulates additional biochemical pathways that strengthen the plant structure and act against the pathogen. The newly approved uses for REGALIA MAXX in Brazil, include tomatoes, potatoes, and dried beans. MBI is working with its partner FMC to expand the label to include a broader array of crops and diseases, such as citrus and row crops.
“REGALIA MAXX brings Brazilian growers an environmentally responsible and effective solution for protecting against a variety of fungal and bacterial diseases, resulting in higher quality and improved yields,” said MBI, CEO Pam Marrone. “This registration is critical to our global expansion plan for MBI products and we believe it will fill a real need for growers in Brazil. REGALIA MAXX can be used as a standalone product or in combination with other fungicides to strengthen integrated pest management programs, improve plant health and boost yields.”
REGALIA MAXX is an advanced biofungicide that can minimize chemical residues by being used alone in a disease-control program, particularly for exported crops at the end of the season right before harvest or in rotation with synthetic fungicides or in a tank mix. The product induces a plant’s natural defenses to protect against a variety of fungal and bacterial diseases and features multiple modes of action, which helps to prevent or delay the development of disease resistance. It also provides a four-hour re-entry interval that increases operational flexibility and a zero-day post-harvest interval so crop quality can be protected right up to harvest. REGALIA MAXX is proven to control diseases such as powdery mildews on cucurbits (melons, cucumber, zucchini), cane berries, tomatoes (including tomatillo), eggplant, peppers, grapes and ornamentals; Alternaria on tomatoes and potatoes; anthracnose on avocado, mango, papaya and citrus.
About Marrone Bio Innovations
Marrone Bio Innovations, Inc. (NASDAQ: MBII) is a leading provider of bio-based pest management and plant health products for the agriculture, turf and ornamental and water treatment markets. Our effective and environmentally responsible solutions help customers operate more sustainably while controlling pests, improving plant health, and increasing crop yields. We have a proprietary discovery process, a rapid development platform, and a robust pipeline of pest management and plant health product candidates. At Marrone Bio Innovations we are dedicated to pioneering better biopesticides that support a better tomorrow for users around the globe. For more information, please visit www.marronebio.com.
Forward Looking Statements
Portions of this press release may constitute “forward-looking statements,” and assumptions underlying such forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”), Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any such forward-looking statements are made within the “safe-harbor” protections of the PSLRA, should not be relied upon as representing our views as of any subsequent date, and we are under no obligation to, and expressly disclaims any responsibility to, update or alter these forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements in this filing include those regarding: the anticipated filing date of the Company’s Form 10-Q and the Company’s expectations regarding regaining full compliance with NASDAQ continued listing requirements. Such forward-looking statements are based on information available to us as of the date of this release and involve a number of risks and uncertainties, some beyond our control, that could cause actual results to differ materially from those anticipated by these forward-looking statements. Such risks include the uncertainty surrounding the timing and results of the Audit Committee’s independent investigation of accounting matters, the potential need for restatement of our prior period financial statements, how promptly the investigation of accounting matters can be completed and any results thereof can be resolved, and potential legal or regulatory action related to the matters under investigation. In addition, the Company faces other risks and uncertainties that could affect its ability to complete the filing of its Form 10-Q and to regain compliance with the NASDAQ listing requirements. Additional information that could lead to material changes in our performance is contained in our filings with the Securities and Exchange Commission.