MustGrow Biologics (CSE: MGRO) this morning provided an update to the market on the status of its current product pipeline. The pipeline, true to the focus of the company, is heavily focused on mustard-derived biopesticide technology, from which it harnesses the mustard seed’s natural defense mechanisms.
The current product pipeline covers numerous target market, with the most advanced stage product being a pre-plant soil biopesticide that targets soil borne diseases and pests in a number of high value crops. US EPA registration is in progress for this product, with the company classifying the stage as being “pre-launch” within the targeted US$1.2 billion global market. Current registration is working towards an approved liquid format that is anticipated to granted in 2021.
While numerous products remain in the pipeline, the company is also quick to highlight the opportunity presented by the banana industry, with the company recently announcing that it has demonstrated 100% control of Fusarium wilt TR4, also known as Panama Disease.
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The company is quickly moving ahead with research in this category, with greenhouse trials said to be next on the docket following the successful lab trials, given that no effective treatments exist for the disease which can cause 100% crop loss. Further advancements in this segment are anticipated in the first quarter of 2021, in both the lab and the field.
| PRODUCT | TARGET | MARKET | STAGE |
| Pre-Plant Soil Biopesticide | Soil-borne diseases & pests | ||
| Fruits & Veg, Turf & Ornamentals, Potatoes, Tobacco | Fusarium, Botrytis, Verticillium, Rhizoctonia, Pythium, Phytophthora, Sclerotinia, Nematodes, etc. | US$1.2 Billion est global market in Fruit & Veg | U.S. EPA registration is in process for multiple crops; Pre-Launch |
| Canola | Clubroot Disease (Plasmodiophora brassicae) | C$500 Million est economic loss in Canada | Advanced Development / Field Trials |
| Bananas | Fusarium wilt TR4 | US$18 Billion est global loss | Early Development / Greenhouse |
| Pulse Crops | Aphanomyces | C$100 Million est economic loss in Canada | Proof-of-Concept / Laboratory |
| Non-Selective Bioherbicide | Noxious or resistant weeds | US$13 Billion est global market | Early Development / Greenhouse |
| Stored Potato & Vegetable Sprout Inhibitor* | Sprouting, diseases & pests | US$100 Million est global market | Early Development / Laboratory |
| Storage Biopesticide for Bulk Grain* | Mycotoxin and insects | US$15 Billion est global loss | Proof-of-Concept / Laboratory |
| Storage Biopesticide for Shipping Containers* | Fungus and invasive pests & diseases | US$2 Billion est global market | Proof-of-Concept / Laboratory |
| Biopesticide for Food-Borne Pathogens* | E.coli, Salmonella, Listeria, Staphylococcus | US$15 Billion est global market | Proof-of-Concept / Laboratory |
Other work slated to be conducted by the company in 2021 includes program advancements in its non-selective bioherbicide slated to occur in the second quarter. Also scheduled is greenhouse trials this winter followed by field trials in spring 2021 for a formulation targeting clubroot disease within canola. Finally, MustGrow will also be testing recently acquired technology from the University of Idaho related to a stored potato and vegetable inhibitor within a laboratory setting this winter.
MustGrow Biologics last traded at $0.94 on the CSE.
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