DAVIS, Calif., May 21, 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 an exclusive field of use license for the patent properties covering various uses of a plant endophyte from Brookhaven Science Associates, LLC., (BSA) manager/operator of Brookhaven National Laboratory under contract with the U.S. Department of Energy. MBI will use a naturally occurring endophyte in the development of products involving plant health. The agreement grants MBI exclusive commercial development and marketing rights to horticultural uses of the endophyte in the United States, Canada, Mexico, New Zealand, Australia, and member states of the European Patent Organization.
The licensed patent properties are directed to promoting increased yield and in providing drought tolerance in crops. MBI has been actively developing plant health products with several active ingredients that promote plant growth by reducing plant water loss, allowing crops to thrive better in sun-stressed environments. The products based on this technology and active ingredient are expected to be the first of their kind on the market.
Dr. Pam Marrone, CEO of MBI, commented, "This is a great addition to other technologies we have licensed relating to plant health and drought resistance. This active ingredient is a very good fit with our proven abilities to take an in-licensed plant health technology from early development to full commercialization. We expect to introduce several plant health products in the near future that will join our existing Regalia Rx product in helping growers maximize the health and yield potential of their crops."
Marrone Bio Innovations sees great market potential in the plant health market segment. Dr. Alison Stewart, Sr. Vice President and Chief Technical Officer explains, "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 that are a growing challenge in all areas of the world. We are excited about the opportunity to develop commercial products to address these needs. This agreement with Brookhaven National Laboratory is just the latest step in our strategy to expand our product portfolio beyond biopesticides."
According to Connie M. Cleary, DPM, CLP, Manager of Brookhaven National Laboratory's Office of Technology Commercialization and Partnerships: "Brookhaven Science Associates and Brookhaven National Laboratory are very pleased that the License Agreement with MBI will enable MBI to develop this important technology so that it may have significant impact on utilization of US and the world's resources. Such License Agreements are instrumental in our being able to fulfill the Technology Transfer mission of the United States Department of Energy."
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.
About Brookhaven National Laboratory
One of ten national laboratories overseen and primarily funded by the Office of Science of the U.S. Department of Energy (DOE), Brookhaven National Laboratory conducts research in the physical, biomedical, and environmental sciences, as well as in energy technologies and national security. Brookhaven Lab also builds and operates major scientific facilities available to university, industry and government researchers. Brookhaven is operated and managed for DOE's Office of Science by Brookhaven Science Associates, a limited-liability company founded by the Research Foundation for the State University of New York on behalf of Stony Brook University, the largest academic user of Laboratory facilities, and Battelle, a nonprofit applied science and technology organization.
We advance fundamental research in nuclear and particle physics to gain a deeper understanding of matter, energy, space, and time; apply photon sciences and nanomaterials research to energy challenges of critical importance to the nation; and perform cross-disciplinary research on climate change, sustainable energy, and Earth's ecosystems.
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 May 15, 2014.
CONTACT: Julie Versman Marrone Bio Innovations 530-309-8755 firstname.lastname@example.org
Source:Marrone Bio Innovations