MustGrow Biologics Corp (CSE:MGRO) revealed that it has significantly grown its intellectual property (IP) portfolio in both quantity and scope, especially through its valuable global patents.
In the last three years, the Canadian agriculture biotech company’s global IP portfolio has expanded to 84 issued and pending patents from 23. Out of the 84 total, 62 patents have been issued, which is a dramatic leap from the 18 issued patents the firm had three years ago.
The Saskatoon-based company is developing organic biopesticides and bioherbicides by harnessing the natural defense mechanism of the mustard plant to protect crops from diseases, pests, and weeds. The company and its global partners – Janssen PMP, Bayer, Sumitomo Corporation, and Univar Solutions’ NexusBioAg – are developing mustard-based organic solutions to potentially replace harmful synthetic chemicals.
MustGrow said its IP portfolio includes “trade secrets” and protects the company’s mustard-derived technology across six continents, including various compositions, production processes, and end-use applications. The IP portfolio also covers the company’s three key areas of focus: pre-plant soil fumigation, post-harvest food preservation, and bioherbicide.
“The growth of our IP portfolio enhances the potential commercial value of MustGrow’s organic mustard-derived crop protection and food preservation technologies through potential product sales, licensing fees, royalties, and other commercial transactions – all of which would drive shareholder value,” MustGrow CEO Corey Giasson said in a statement.
Since 2021, MustGrow has been developing its biologic technologies with Janssen PMP, Bayer, Sumitomo, and NexusBioAg, but retains the ability to commercialize all its partnership-generated data and discoveries. The company said the arrangements have allowed it to “substantially accelerate technology development and potential future commercialization.”
MustGrow said it innovates in biological crop protection with the "breadth and depth of its IP portfolio," driven by "lab, greenhouse, and field trials."
Over 150 independent tests have been completed, validating MustGrow’s safe and effective approach to crop protection. Pending regulatory approval, MustGrow’s patented technology could be applied through injection, standard drip, or spray equipment, improving performance features. Now a platform technology, MustGrow is pursuing applications in different industries from pre-plant soil treatment and weed control to post-harvest disease control and food preservation.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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