09 September 2021, California: Marrone Bio Innovations, Inc. (NASDAQ: MBII), an international leader in sustainable bioprotection and plant health solutions, is on track to submit MBI-306, its next generation nematicide/insecticide, to regulatory authorities in the United States within the coming weeks. Destined for row and specialty crop markets globally, MBI-306 and its variants have been proven to perform as well as synthetic counterparts both in terms of efficacy and return on investment (ROI) to growers. The product is well positioned to be an important component of the $15.7 billion global insecticide market1, and is expected to generate peak potential incremental revenue for MBI in excess of $100 million.
“The regulatory submission of MBI-306 underscores our position as the differentiated leader to meet consumer and grower demand for sustainable agricultural solutions,” said Chief Executive Officer, Kevin Helash. “We have always believed biologicals have the potential, from both an efficacy and ROI standpoint, to compete directly with traditional products. MBI-306 is a result of our relentless R&D efforts to achieve that vision. I believe this product will be a true gamechanger for MBI,” Helash added.
MBI-306 and its variants are built on a proprietary microbe (Burkholderia rinojensis strain A396) that has been the foundation of the company’s Venerate®Bioinsecticide and Majestene® Bionematicide crop protection products. MBI-306 is proven to be efficacious against a broad spectrum of yield-robbing insects and nematodes, including corn rootworm larvae, often referred to as the billion-dollar pest in the United States.
In addition to the regulatory submission of MBI-306, MBI is in the final stages of preparing to submit MBI-206 — a popular bionematicide seed treatment used on more than 10 million acres in the United States — to Brazilian regulatory authorities. This will serve to further expand the company’s geographic footprint in one of the world’s largest corn and soybean markets with an estimated insecticide value of $2 billion in 2020.2
In addition to its impressive commercial performance, MBI-206 has also been evaluated for climate impact by a third-party, Boundless Impact Research and Analytics, and received an ‘outstanding’ score of 9.8 out of 10. Given the similarities in both products, MBI-306 is expected to receive an equally advantageous score and will be evaluated in the coming months.
Once approved, current plans are to produce both products at MBI’s dedicated manufacturing facility in Bangor, Michigan. The plant is on track to complete a more than $1 million capital investment in early 2022 where, once complete, it will shift to a 24-hour production cycle.
“MBI-206 and MBI-306 are two examples of how MBI continues to expand globally as the leader in sustainable plant health and protection tools for our grower customers. These products demonstrate our ability to take innovation from the lab and make it work in the field,” said Helash.
Commercial launch for both products is expected in 2023/2024.