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Marrone Bio Innovations, Inc Receives California Approval For MAJESTENE Bionematicide



11/16/2016 10:29:40 AM

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New Bionematicide Addresses Large Market Need Bringing Environmentally Responsible and Effective Solution for Combatting Nematodes and Protecting Crops

DAVIS, Calif.--(BUSINESS WIRE)--Marrone Bio Innovations, Inc. (MBI), (NASDAQ: MBII), a leading manufacturer and marketer of bio-based pest management and plant health products for the agriculture, turf and ornamental and water treatment markets, announced today that the California Department of Pesticide Regulation (DPR) has approved its bionematicide, MAJESTENE®, a broad spectrum, high performance natural bionematicide to manage nematode (roundworm) populations and increase yields in a wide range of agricultural crops.

“We are pleased with MAJESTENE’S approval in California, as this new bionematicide addresses a large market need created by heavy restrictions on chemicals used to control nematodes and the need for easier-to-use biologicals that reduce multiple species of nematode populations”

MAJESTENE, based on a novel bacterium that produces nematicidal compounds, was developed from MBI’s in-house discovery screening process and provides growers with a new mode of action for safely controlling nematodes by reducing or stopping eggs from hatching, preventing root galling and reducing nematode population density. Experts estimate that plant parasitic nematodes cause approximately $100 billion in global damage to crops annually. According to pesticide usage data from the California Department of Pesticide Regulation, more than 9 million pounds of toxic fumigants were used in California in 2015, some of which are targeted for nematode control.

“We are pleased with MAJESTENE’S approval in California, as this new bionematicide addresses a large market need created by heavy restrictions on chemicals used to control nematodes and the need for easier-to-use biologicals that reduce multiple species of nematode populations,” said Tony Torres, MBI’s insecticide/nematicide product manager/Nematicide Product Manager.

MAJESTENE provides an important, new tool for California growers, as DPR recently announced new restrictions, to start January 1, 2017, further restricting the use of the chemical fumigant nematicide/pesticide 1,3-Dichloropropene, known commercially as Telone®. In California, this fumigant is used most often on the Central Coast and in the San Joaquin Valley. The new restrictions will limit Telone application to 136,000 pounds within each “township,” or 6-mile by 6-mile area of land, per year. Currently, those limits range between 90,250 and 180,500 pounds per year.

MAJESTENE is labeled for a wide array of crops against multiple nematodes such as root knot, cyst, sting and lance and is approved for use in conventional and organic systems. It is available in a liquid formulation and can be applied at planting and in-season through irrigation systems with no limit on the number of applications allowed per season. MAJESTENE has the minimum four-hour re-entry interval. The product is non-toxic to fish, birds and most beneficial insects, and also has the advantages of a zero-day pre-harvest interval (PHI) and an exemption from MRL (maximum residue level) tolerances — a measure of pesticide residue limits that must be met for most food crop exports.

MBI is conducting trials with researchers and demonstrations with California growers on a range of target crops such as carrots, trees and vines.

About Marrone Bio Innovations

Marrone Bio Innovations, Inc. (NASDAQ: MBII) strives to lead the movement to a more sustainable world through the discovery, development and promotion of biological products for pest management and plant health. Our effective and environmentally responsible solutions help customers operate more sustainably while controlling pests, improving plant health, and increasing crop yields. We have four products for agriculture on the market (Regalia®, Grandevo®, Venerate® and Majestene®), and also distribute Bio-tam 2.0® for Isagro USA in the western U.S. MBI also markets Zequanox® for invasive mussels for water markets. We also 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.

Marrone Bio Innovations Forward Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing MBI’s views as of any subsequent date. Examples of such statements include statements regarding the potential of and market for MBI’s Majestene product and its use and value to growers. Such forward-looking statements are based on information available to the Company as of the date of this release and involve a number of risks and uncertainties, some beyond the Company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including risks associated with marketing Majestene with MBI’s principal customers, competition in the market for pest management products, lack of understanding of bio-based pest management products by customers and growers, adverse decisions by regulatory agencies and other relevant third parties and the impact of weather conditions and other factors affecting use of crop protection products . Additional information that could lead to material changes in MBI’s performance is contained in its filings with the SEC. MBI is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of new information, future events or otherwise.

Contacts

Marrone Bio Innovations:
Nancy M. Hood, 530-302-8290
VP Marketing
nhood@marronebio.com
or
MBI Investor:
ICR
James Palczynski, 203-682-8229
James.Palczynski@icrinc.com


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