DAVIS, Calif., August 13, 2018 – Marrone Bio Innovations, Inc. (NASDAQ: MBII) (MBI), a leading provider of bio-based pest management and plant health products for the agriculture, turf and ornamental and water treatment markets, has submitted the registration package for its new bioherbicide, MBI-014, to the United States Environmental Protection Agency (EPA).
Weeds are a major source of yield losses for most cropping systems. According to various market research reports, herbicides account for 40% of the $50 billion global pesticide market. Of the approximately $7.2 billion chemical pesticides sold in the U.S. each year, nearly $4 billion are chemical herbicides.
Grower surveys repeatedly show that weed control is the number one cost of organic food production since chemical herbicides are not allowed. In organic growing systems, herbicide options are extremely limited, consisting almost entirely of non-selective soaps and acids that typically require repeat applications, lack residual activity, only affect plant areas into which they come in direct contact, and sometimes cost more than hand weeding. According to the Organic Trade Association, organic food sales reached $45 billion in the U.S. and is the fastest growing segment of food, growing an average of 9.1% annually since 2008.
MBI-014 is a water dispersible microbial herbicide made from a new species of heat-killed bacteria, Burkholderia rinojensis (strain A396). This new herbicide has a novel mode of action per research conducted at the USDA Agricultural Research Service. While additional development work and field trials need to be conducted, MBI-014 could prove to be a valuable new tool for weed control when used in conjunction with other herbicides in a grower’s integrated pest management (IPM) program.
MBI-014 demonstrates post-emergent herbicidal activity across a range of weeds in laboratory and field tests. It shows evidence of uptake and moderate movement through different plant tissues. MBI-014 is most effective on some of the most serious weeds, some of which have developed resistance to multiple herbicide classes, such as palmer amaranth, waterhemp and others in the pigweed family (Amaranthacae).
“We are excited about what we have seen so far in the development of MBI-014,” said Amit Vasavada, Senior Vice President of R&D and Chief Technology Officer at Marrone Bio Innovations. “We do have more work to do in order to determine such things as appropriate doses on key target weeds, water volume required, adjuvant package needed and further expansion of the spectrum of targeted weeds.”
Sources of cited information: Phillips McDougall Agribusiness Intelligence, Weed Science Society of America, University of Missouri, Organic Trade Association, Organic Farming Research Foundation, USDA.
About Marrone Bio Innovations
Marrone Bio Innovations, Inc. (NASDAQ: MBII) strives to lead the movement to more sustainable world through the discovery, development and sale of innovative biological products for crop protection, plant health and waterway systems treatment. MBI has screened over 18,000 microorganisms and 350 plant extracts, leveraging its in-depth knowledge of plant and soil microbiomes enhanced by advanced molecular technologies to rapidly develop seven effective and environmentally responsible pest management products to help customers operate more sustainably while uniquely improving plant health and increasing crop yields. Supported by a robust portfolio of over 400 issued and pending patents around its superior natural product chemistry, MBI’s currently available commercial products are Regalia®, Grandevo®, Venerate®, Majestene®, Haven® Stargus® and Amplitude™, Zelto® and Zequanox®.
Marrone Bio Innovations is dedicated to pioneering smart biopesticide solutions that support a better tomorrow for both farmers, turf managers and consumers around the globe. For more information, please visit www.marronebio.com.
Marrone Bio Innovations Forward Looking Statements
This press release contains forward-looking statements that 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 MBI’s views as of any subsequent date. Examples of such statements include statements regarding the potential of MBI-014 Bioherbicide and other MBI products, market projections, including the potential benefits of Ennoble. 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 consumer, regulatory and other factors affecting demand for the MBI’s products, any difficulty in marketing MBI’s products in its target markets, competition in the market for pest management products, lack of understanding of bio-based pest management products by customers and growers. Additional information that could lead to material changes in MBI’s performance is contained in its filings with the SEC. MBI 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 current information, future events or otherwise.
Marrone Bio Innovations Contacts:
Pam Marrone, CEO and Founder
Telephone: +1 (530) 750-2800
MBI Investor Relations:
MZ Group – MZ North America
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anthonyBarnum Public Relations