Davis, California, USA
November 1, 2021
Marrone Bio Innovations, Inc. (NASDAQ: MBII), an international leader in sustainable bioprotection and plant health solutions, has submitted the regulatory packages for MBI-306 to the U.S. Environmental Protection Agency (EPA) and for MBI-206 to all three Brazilian regulatory authorities – the National Health Surveillance Agency (ANVISA), the Ministry of Agriculture (MAPA) and the Institute of Environment and Renewable Natural Resources (IBAMA) – paving the way for commercialization of its novel nematicides/insecticides.
Pending EPA approval, MBI-306 will compete in the $15.7 billion global insecticide market* and provide specialty and row crop growers with a next-generation technology to control a broad spectrum of yield-robbing insects and nematodes, including corn rootworm larvae.
“Our submissions are on track, as we committed, and thus begins the regulatory review process that will allow us to bring two differentiated products with favorable environmental benefits to the world’s largest soybean and corn-growing regions,” said Chief Executive Officer Kevin Helash. “With estimated peak potential revenue in excess of $100 million for both products, MBI-306 and its variants and MBI-206 will be important contributors to advancing Marrone Bio’s growth and leadership in crop bioprotection.”
MBI-206 has been submitted for approval in Brazil for two uses: as a seed treatment and as a foliar/in-furrow product. Upon approval, the seed treatment will be used to control nematodes on soybeans and corn, which are estimated to be on a record-setting 148 million acres for the 2021/2022 growing season.**
“The expected approval of MBI-206 in Brazil is a significant step forward for MBI as we look to grow our global footprint with strategic partners in South America. The seed treatment and foliar product are great examples of how we are aggressively building a global portfolio of biological products and positioning them in markets that will provide the greatest impact for growers and MBI alike,” added Helash.
MBI-306 and MBI-206 are built on a proprietary microbe (Burkholderia rinojensis strain A396) that has been the active ingredient in MBI’s Venerate® bioinsecticide and Majestene® bionematicide products. Commercial launches for both products are expected in 2023/2024.
Sources
*. IHS Markit
**. Grant, Daniel. “Brazilian soybean, corn production forecast to set records.” September 30, 2021. Online: FarmWeekNow.com
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