DAVIS, Calif., May 28, 2014 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (MBI), (Nasdaq:MBII), a global provider of bio-based pest management and plant health products and Valagro S.p.A, a leader in the production and marketing of plant biostimulants and high efficiency nutritionals announced they have signed an agreement to collaborate in the discovery and development of agricultural products. Under the agreement the companies will provide each other access to certain intellectual property, active ingredients, and formulations and evaluate the performance of combinations of technologies for commercial use.
According to Dr. Alison Stewart, MBI Senior VP of R&D and Chief Technology Officer, "The research and development capabilities of the two companies are very complementary. Initially, we will focus on three areas of collaboration: Valagro will evaluate combinations of its biostimulants with MBI biologicals for synergistic effects; MBI will utilize its in-house screening program to assess Valagro bioactives for pesticidal activity; and both companies will co-develop MBI late-stage plant health bioactives leveraging Valagro technologies."
Dr. Prem Warrior, Valagro Chief Operating Officer, also sees great promise in the collaboration. "The synergy between Valagro and MBI is very high. Both companies are strongly committed to advancing the potential of bio-based compounds to improve plant health and yield potential in a wide variety of crops. MBI and Valagro are leaders in bioactive research and development so we fully expect working together will produce valuable outcomes and potential new product candidates."
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 Valagro S.p.A.
Valagro is a leading company in the production and marketing of plant biostimulants and high efficiency nutritionals for use in agriculture, lawncare, gardening and various industrial applications. Founded in 1980 and based in Atessa, Italy, Valagro is committed to providing innovative and effective solutions for nutrition and plant care that can help our customers achieve higher yields and healthier crops with lower environmental impact. Valagro puts science at the service of humanity by helping to enhance wellbeing, promote improved nutrition and respect our habitat. For more information, please visit www.valagro.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 market size and the results from the field trials. 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 530-750-2800 firstname.lastname@example.org
Source:Marrone Bio Innovations