MustGrow Reports Growth of Global Patent Portfolio
- Mustard-derived intellectual property portfolio has significantly advanced in quantity and scope.
- Patents have been filed across six continents.
- Patent portfolio has grown from 23 to 84 in three year period.
Saskatoon, Saskatchewan--(Newsfile Corp. - March 8, 2023) - MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the "Company" or "MustGrow"), is pleased to report on the growth of its intellectual property portfolio (the "IP Portfolio") in both quantity and scope, particularly with respect to the Company's patents.
"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 and royalities, and/or other commercial transactions - all of which would contribute to driving shareholder value," remarked Corey Giasson, MustGrow's President & CEO.
MustGrow's global IP Portfolio has grown from 23 to 84 total patents issued and pending over the last three years. Of the 84 total patents, 62 have been issued, an increase from 18 issued patents three years ago. The IP Portfolio also includes trade secrets and protects MustGrow's mustard-derived technology across six continents, including various composition, production process, and end-use applications. The IP Portfolio covers MustGrow's three key areas of focus: pre-plant soil fumigation, postharvest food preservation, and bioherbicide.
Since 2021, MustGrow has been developing its biologic technologies with four global partners - Janssen PMP, Bayer, Sumitomo Corporation, and NexusBioAg - and retains the ability to commercialize all of its partnership-generated data and discoveries. These arrangements have allowed MustGrow to substantially accelerate technology development and potential future commercialization. MustGrow continues to innovate in biological crop protection and food preservation with the breadth and depth of its IP Portfolio, driven by laboratory, greenhouse, and field trials.
MustGrow is an agriculture biotech company developing organic biopesticides and bioherbicides by harnessing the natural defense mechanism of the mustard plant to protect the global food supply from diseases, insect pests, and weeds. MustGrow and its leading global partners - Janssen PMP (pharmaceutical division of Johnson & Johnson), Bayer, Sumitomo Corporation, and Univar Solutions' NexusBioAg - are developing mustard-based organic solutions to potentially replace harmful synthetic chemicals. Over 150 independent tests have been completed, validating MustGrow's safe and effective approach to crop and food protection. Pending regulatory approval, MustGrow's patented technology could be applied through injection, standard drip or spray equipment, improving functionality and performance features. Now a platform technology, MustGrow and its global partners are pursuing applications in several different industries from preplant soil treatment and weed control, to postharvest disease control and food preservation. MustGrow has approximately 49.7 million basic common shares issued and outstanding and 55.6 million shares fully diluted. For further details, please visit www.mustgrow.ca.
ON BEHALF OF THE BOARD
Director & CEO
MustGrow Forward-Looking Statements
Certain statements included in this news release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: (i) enhancements to potential commercial value of its organic mustard-derived crop protection and food preservation technologies through potential product sales, licensing fees and royalities, and/or other commercial transactions; and (ii) the potential outcomes stemming from the Company's efforts with respect to its IP Portfolio to continue driving shareholder value.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow. Important factors that could cause MustGrow's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) the preferences and choices of agricultural regulators with respect to product approval timelines; (ii) the ability of MustGrow's partners to meet obligations under their respective agreements; and (iii) other risks described in more detail in MustGrow's Annual Information Form for the year ended December 31, 2021 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available at www.sedar.com. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.
This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.
Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.
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