Albaugh and Marrone Bio Innovations Sign Exclusive Seed Treatment Agreement for a Microbial Biopesticide Product
DAVIS, Calif.--(BUSINESS WIRE)--
Albaugh, LLC, a leading provider of crop protection products and seed
treatment technology and Marrone Bio Innovations, Inc.
(NASDAQ:MBII) (MBI), a leading provider of effective and environmentally
responsible pest management and plant health products, announced today
the companies have signed an exclusive agreement to develop
and market one of MBI's microbial products, a proprietary microbial
biopesticide with insecticidal and nematicidal properties, for seed
Dr. Pam Marrone, Founder and Chief Executive Officer of Marrone Bio
Innovations, commented, "We are pleased to add Albaugh to our growing
network of strategic partners. The combination of their state-of-the-art
seed treatment technology and expertise and our proprietary microbial
technology is expected to yield new, innovative solutions for growers.
We are very excited about the potential to commercialize new,
globally-relevant seed treatment applications. We are confident, given
MBI's three years of field research that demonstrates efficacy against a
broad spectrum of pests, we will quickly reveal the value of this
Albaugh Seed Treatment technology is developing a robust portfolio for
the seed treatment market. "This agreement strengthens our commitment to
address customer's needs and expand our product offers and concepts,"
says Chris Zita, Director of Seed Treatments, North America. "Our goal
is to provide seed treatment technology that is driven by innovation,
performance and value and this agreement is a great example of our focus
and drive to delivery on that strategy."
"This strategic partnership is the first step to helping us deliver
novel solutions to the seed treatment industry," stated Albaugh's
Director of Global Proprietary Projects Chad Shelton. "Delivering a new
biopesticide seed treatment with combined activity as an insecticide and
nematicide that delivers value to the growers will be the first exciting
result of this collaboration."
The agreement covers all crops for seed treatment in the United States
About ALBAUGH, LLC
Albaugh, LLC is the largest global privately-held producer of
post-patent herbicides, fungicides, insecticides and plant-growth
regulators. Albaugh has leading market positions in four of the most
widely-used post-patent agrochemicals worldwide -- glyphosate, 2,4-D,
atrazine and dicamba - with direct market presence in the USA, Canada,
Mexico, Brazil, Argentina and Europe."
Please visit http://albaughllc.com.
Albaugh, LLC Contacts:
Chris Zita, Director of Seed Treatments, North America
Chad Shelton, Director of Global Proprietary Projects
About Marrone Bio Innovations
Smart. Natural. Solutions.
Marrone Bio Innovations, Inc. (NASDAQ: MBII) strives to lead the
movement to a more sustainable world through the discovery, development
and promotion of biological products for pest management and plant
health. Our effective and environmentally responsible solutions help
customers operate more sustainably while controlling pests, improving
plant health, and increasing crop yields. We have four products for
agriculture on the market (Regalia®, Grandevo®,
Venerate® and Majestene®), and also distribute
Bio-tam 2.0® for Isagro USA in the western U.S. MBI also
markets Zequanox® for invasive mussels for water markets. We
also 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.
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 sales of the
Company's products, including GRANDEVO and VENERATE, in Mexico and other
markets, the potential benefits of the Company's products, and MBI's
efforts with respect to expansion of its product labels. 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 Company's products, any difficulty in
marketing MBI's products in Mexico, competition in the market for pest
management products, lack of understanding of bio-based pest management
products by customers and growers, and adverse decisions by regulatory
agencies and other relevant third parties. 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 new
information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160809005668/en/
Marrone Bio Innovations:
Nancy M. Hood, VP Marketing
+1 (530) 302-8290
James Palczynski, ICR
Telephone: +1 (203)
Source: Marrone Bio Innovations, Inc.
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