MustGrow Biologics (CSE: MGRO) has finally seen the results of its initial field trial program in Colombia related to the testing of its mustard-derived biopesticide against the banana Panama Disease. Testing is said to have confirmed the efficacy of the biopesticide against the disease.
In announcing the trial results, the firm stated that with efficacy now confirmed against the disease, the company has achieved “a unique feat MustGrow believes no other agri-science team has achieved.” Field data collected indicated that reduced incidence and severity of the disease, formally known as Fusarium wilt TR4, was found in the banana plant after 21 days.
Perhaps even more importantly, there was no damage or phytotoxic effects demonstrated on the banana plants event at higher dosage levels, which means the firm can explore the option of treating plants directly, rather than just using soil applications.
The results were successful enough that going forward trials will now be conducted by Sumitomo Corp, the conglomerate that MustGrow has entered into an exclusive evaluation and option agreement with. The move will see the conglomerate now handle field development work, which includes application methods, dose rates, frequency, and the related regulatory work needed for commercialization of the product.
The work conducted in Colombia is expected to “serve as a beachhead” for the expansion into other banana producing countries, while it continues to push for a fast-track approval in the country.
“We now have field data showing efficacy with a clear path forward with Sumitomo Corporation. We are proud to be a leading agri-science team to not only show treatment of Fusarium wilt TR4 in lab, but to do so in infected fields in Colombia. We are very excited to see the continued development and potential expansion to other major banana growing regions,” commented COO Colin Bletsky on the development.
MustGrow Biologics last traded at $4.00 on the TSX Venture.
FULL DISCLOSURE: MustGrow Biologics Corp is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover MustGrow Biologics Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
