DAVIS, Calif., Feb. 3, 2014 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (MBI) (Nasdaq:MBII), a leading global provider of bio-based pest management and plant health products, announced it has secured a license of certain intellectual property rights from Kao Corporation for a plant health active ingredient. MBI expects to use the active in the development of products involving plant and naturally-based compounds in the United States. The agreement grants MBI exclusive commercial development and marketing rights to all conventional and organic agricultural uses, in addition to all turf and ornamental, home and garden, and forestry uses.
The licensed patents are directed to methods of promoting plant growth, as well as increasing biomass and crop yield. MBI has been actively developing new formulations and conducting field trials with product candidates that promote plant growth by reducing water loss, allowing crops to thrive better in sun-stressed environments. The products based on this technology will utilize a unique mode of action and are expected to be the first of their kind to reach the market.
Dr. Pam Marrone, CEO of MBI, commented, "We are excited about obtaining the agreement from Kao to develop commercial applications for the licensed patents. This is a very good fit with our proven abilities to take an in-licensed plant health technology from early development to full commercialization."
Marrone Bio Innovations sees great market potential in these plant-based compounds. Dr. Alison Stewart, Sr. Vice President R&D and Chief Technical Officer explains, "Water management and conservation is a huge problem for many agricultural regions throughout the U.S. and it is getting worse. A product that helps reduce plants' need for water, while maintaining or even increasing quality and yield, will be a significant contribution to overcoming future water management challenges. Looking beyond agriculture, we see the same water management challenges on golf courses and even in residential lawns under local watering restrictions. We are excited about the opportunity to develop commercial products to address these needs."
About Marrone Bio Innovations
Marrone Bio Innovations, Inc. (Nasdaq:MBII) is a leading provider of bio-based pest management and plant health products for the agriculture, turf and ornamental, and water treatment markets. Our effective and environmentally responsible solutions help customers operate more sustainably while controlling pests, improving plant health, and increasing crop yields. We 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.
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release include statements regarding our expectations, beliefs, hopes, goals, intentions, initiatives or strategies, including statements relating to the development of commercial products. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those in the forward-looking statements, including the difficulty in predicting the outcome of product research and development efforts and regulatory approvals. Additional relevant information concerning risks can be found in the in the Form 10-Q that the Company filed with the Securities and Exchange Commission on November 8. 2013.