MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0), known as “MustGrow,” and JANSSEN PMP, a division of Janssen Pharmaceutica NV, which is part of the Janssen Pharmaceutical Companies of Johnson & Johnson (NYSE: JNJ), have jointly announced an extension to their Exclusive Evaluation and Option Agreement. This decision aims to continue the testing and development MustGrow’s innovative mustard plant-based technologies for postharvest food preservation applications globally.
MustGrow had initially granted Janssen PMP the exclusive right to examine its mustard-based technologies for postharvest storage preservation of fruits and vegetables worldwide, with exceptions for grains, potatoes, bananas, and shipping container fumigation. However, following a year of testing and uncovering multiple potential commercial routes, both companies decided to extend the Agreement further to nurture the growth of MustGrow’s natural technologies.
Geoffroy de Chabot-Tramecourt, Director of R&D and Business Development at Janssen PMP, expressed the company’s optimism in the continued collaboration. “In post-harvest, the need for technologies derived from nature remains very high. Janssen PMP sees great potential in using the MustGrow technology to extend the shelf life of fruits and vegetables. This is why we decided to extend our exclusive global partnership with MustGrow.”
MustGrow Biologics’s CEO, Corey Giasson, echoed the sentiment: “Over a year ago, the postharvest fruit and vegetable preservation application was a blue sky opportunity for MustGrow. However, we needed a partner with expertise in this particular area. Janssen PMP delivers this expertise and has been a great partner, and we are excited to continue collaborating with them. This partnership is crucial, as food preservation is a critical global issue. Using MustGrow’s technology as a postharvest treatment in fruits and vegetables may help secure a safe, environmentally sustainable food supply, with less waste.”
This collaboration’s relevance and potential impact are underscored by the importance of fruit and vegetable crops to global food nutrition and the magnitude of postharvest loss. Approximately one-third of produce, worth around US$1 trillion, is lost or wasted in postharvest operations, including loss due to fungal and bacterial diseases. These diseases can cause annual vegetable crop losses of 40-60%, threatening food security and economic sustainability. MustGrow’s technology could reduce these losses, alleviating pressure on the global food supply chain and contributing to a more environmentally sustainable food production system.
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