Marrone Bio Innovations and Plant & Food Research Agreement
Marrone Bio Innovations and Plant & Food Research Sign Agreement
New collaboration expected to drive the development of new biopesticides and plant health products
Auckland, 30 January 2014 - Marrone Bio Innovations, Inc. (MBI) (NASDAQ: MBII) and The New Zealand Institute for Plant & Food Research Limited (Plant & Food Research) announce the signing of a collaborative research agreement. The agreement covers a number of novel bio-active organisms and natural products which Plant & Food Research will provide to MBI for the expected development of biopesticides and plant health products. The MBI field of use includes conventional and organic agricultural uses, turf and ornamental, home and garden, and forestry.
Dr. Alison Stewart, MBI Sr. Vice President and Chief Technical Officer, sees great potential in the agreement. “Having been involved in the New Zealand biopesticide industry for 25 years I am very familiar with the potential of the Institute’s library of bio-actives. Now, I am optimistic that MBI’s expertise and technology can drive these actives toward successful commercialization.”
According to Dr. Gavin Ross, General Manager Business Development with Plant & Food Research, the agreement with MBI fits the strategy of his organization in ensuring innovation is advanced to market. “We have extensive experience in the discovery of new bio-active compounds, but we don’t possess the capabilities at industrial scale for formulation, production and commercialization. In partnering with a company with an international reach, such as MBI, we can ensure that our scientific knowledge is translated into products that can be used by growers worldwide. This agreement allows our respective organizations to concentrate on their areas of expertise to realize the best possible outcomes.”
About Marrone Bio
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.
About The New
Zealand Institute for Plant & Food Research
Plant & Food Research is a New Zealand-based science company providing research and development that adds value to fruit, vegetable, crop and food products. With more than 800 people based at sites across New Zealand, as well as in the USA and Australia, at the heart of Plant & Food Research is a goal to underpin the growth of plant and marine-based industry through the successful application and commercialisation of research-based innovation.
Plant & Food Research’s science supports the sustainable production of high quality produce that earns a premium in international markets, as well as driving the design and development of new and novel functional foods that offer benefits to human health and wellbeing.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release include statements regarding our expectations, beliefs, hopes, goals, intentions, initiatives or strategies, including statements relating to product development. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those in the forward-looking statements, including the difficulty in predicting the outcome of product research and development efforts and regulatory approvals. Additional relevant information concerning risks can be found in the in the Form 10-Q that the Company filed with the Securities and Exchange Commission on November 8. 2013.