MustGrow Receives PMRA Approval to Commence Large Scale Field Trials via NexusBioAg BAT Program
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the “Company” or “MustGrow”) is pleased to announce the approval of Health Canada’s Pest Management Regulatory Agency (“PMRA”) to commence large-scale field trials via NexusBioAg’s 2024 BioAdvantage Trials Program (“BAT Program”). NexusBioAg, is a division of Univar Solutions, providing an expanded portfolio of crop nutrition solutions, including industry-leading inoculants, micronutrients, nitrogen stabilizers, and foliar products. NexusBioAg is partnered with MustGrow to provide TerraMGTM to Canadian farmers, upon PMRA registraion, as a preplant soil treatment for diseases affecting canola and pulse crops.
NexusBioAg’s BAT Program is recognized as an industry leading field trialing program with an established process to gather data from large field scale trials across Canada. Since it’s inception, NexusBioAg continues to expand the BAT Program footprint and engage with collaborators to evaluate products in the NexusBioAg pipeline. Through the BAT Program, NexusBioAg validates product efficacy and establishes the product value and opportunity. To learn more about the BAT Program, visit www.nexusbioag.com/bioadvantage-trials.
The BAT Program will focus on MustGrow’s TerraMGTM mustard-derived soil biopesticide technology for use in Canadian canola and pulse crop markets. The addition of this plant-based technology to the BAT Program further diversifies and expands NexusBioAg’s extensive portfolio of inoculants, micronutrients, nitrogen stabilizers and foliars for the Canadian agricultural market.
“There has been a significant amount of grower interest in MustGrow’s TerraMGTM and there is excitement to evaluate TerraMGTM in real farming conditions during the 2024 BAT Program. We will collaborate with MustGrow to conduct large scale field trials throughout Western Canada and give agriculture innovators an opportunity to work with true agriculture innovation,” remarked Daniel Samphir, NexusBioAg Senior Marketing Manager.
In 2021, NexusBioAg and MustGrow initiated a field research program to develop MustGrow’s sustainable farming technology in Canadian canola and pulse crops. This technology has the potential to address the agronomic challenges of clubroot and aphanomyces diseases which are rapidly devastating these crops. Building on existing collaborative data, NexusBioAg and MustGrow are now moving forward to the next stage of the registration process. Through the BAT Program, NexusBioAg farm customers will have access to MustGrow’s mustard plant-based agronomic innovation.
NexusBioAg is committed to launching innovative, cutting-edge products, with a focus on sustainability and regenerative agriculture, which benefit the Canadian agricultural industry and growers. MustGrow specializes in the research and development of organic biocontrol, soil amendment and biofertility technologies from mustard, harnessing the plant’s natural defense mechanism with technologies that have the potential to control diseases, pests and weeds, and in addition, provide nutrients to boost the soil microbiome. Combining the proficiencies of both companies in the agriculture market will help Canadian farmers benefit from innovative and sustainable farming solutions.
Clubroot Disease: Canola
Clubroot is a rapidly spreading disease pathogen destroying canola, one of Canada’s more profitable crops with over 20 million acres grown each year and contributing C$30 billion in economic activity in Canada.(1) Industry experts conservatively estimate C$500 million in annual canola crop losses in Canada caused by Clubroot.(2) Current treatments cannot eradicate clubroot completely – they are only intended to slow the spread and reduce the incidence and severity of the disease. Some field infections may lead to 100% crop loss.
Aphanomyces Disease: Pulse Crops
Aphanomyces is a water mould pathogen responsible for root-rot disease, infecting a variety of peas, lentils and other legumes collectively referred to as pulse crops. The disease causes severe root damage and wilting, with yield losses ranging from 10% to 100% in infected fields.(2) Canada is one of the world’s largest producers of pulse crops, with approximately 7 to 10 million arces grown annually with an estimated farm gate value of over C$3.5 billion, and the world’s largest exporter.(3) Industry experts conservatively estimate C$125 million in annual pulse crop losses due to aphanomyces.(2) Current treatment measures cannot control aphanomyces – they are only able to slow down the spread and reduce the incidence and severity of the disease.
The global plant-based protein market size is projected to grow from US$14.1 billion in 2021 to US$17.4 billion by 2027 (CAGR of 3.7%).(4) This is attributed to several drivers, predominantly rising consumer health-consciousness, growing prevalence of protein-rich pulse crop food products, and technological innovations in plant-based protein extraction.
Sources:
Canola Council of Canada https://www.canolacouncil.org/sustainability/economic/
3rd party market research, MustGrow estimates
imarcgroup.com; https://pulsecanada.com/uploads/National-Pulse-Research-Strategy-Jan-10.pdf
https://www.ey.com/en_gl/strategy/how-alternative-proteins-are-reshaping-meat-industries
For more information about NexusBioAg’s crop nutrition solutions, please visit www.nexusbioag.com. To learn more about TerraMG™, visit www.mustgrow.ca.
About MustGrow
MustGrow is an agriculture biotech company developing organic biocontrol, soil amendment and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world. MustGrow and its leading global partners — Janssen PMP (pharmaceutical division of Johnson & Johnson), Bayer, Sumitomo Corporation, and Univar Solutions’ NexusBioAg — are developing mustard-based organic solutions to potentially replace harmful synthetic chemicals. Concurrently, with new formulations derived from food-grade mustard, the Company is pursuing the adoption and use of its technology in the soil amendment and biofertily markets. Over 150 independent tests have been completed, validating MustGrow’s safe and effective approach to crop and food protection and yield enhancements. Pending regulatory approval, MustGrow’s patented liquid technologies could be applied through injection, standard drip or spray equipment, improving functionality and performance features. Now a platform technology, MustGrow and its global partners are pursuing applications in several different industries from preplant soil treatment and weed control, to postharvest disease control and food preservation, to soil amendment and biofertility. MustGrow has approximately 50.1 million basic common shares issued and outstanding and 55.0 million shares fully diluted. For further details, please visit www.mustgrow.ca.
Contact Information
Corey Giasson
Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca
MustGrow Forward-Looking Statements
Certain statements included in this news release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: the potential outcomes of the BAT Program trials of MustGrow’s TerraMGTM; the focus of the BAT Program on MustGrow’s TerraMGTM mustard-derived soil biopesticide technology for use in Canadian canola and pulse crop markets; the potential of MustGrow’s TerraMGTM technology to address the agronomic challenges of clubroot and aphanomyces diseases on canola and pulse crops; and the potential outcome of any registration process for MustGrow’s TerraMGTM.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow. Important factors that could cause MustGrow’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include market receptivity to investor relations activities as well as those risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2022 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedar.com. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.
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