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MustGrow and Janssen PMP, A Division of Janssen Pharmaceutica NV, Form Exclusive Global Partnership
Exclusive agreement with Janssen PMP, a division of Janssen Pharmaceutica NV, to test MustGro...
About this update from Mustgrow Biologics Corp.
[{"type":"text","content":"MustGrow and Janssen PMP, A Division of Janssen Pharmaceutica NV, Form Exclusive Global PartnershipExclusive agreement with Janssen PMP, a division of Janssen Pharmaceutica NV, to test MustGrow's mustard-based postharvest food storage preservation technologies for certain applications globally.Janssen PMP will fund and drive all testing and development work.Saskatoon, Saskatchewan--(Newsfile Corp. - April 20, 2022) - MustGrow Biologics Corp. (CSE: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the \"Company\", \"MustGrow\"), and JANSSEN PMP, a division of Janssen Pharmaceutica NV, one of the Janssen Pharmaceutical Companies of Johnson & Johnson (NYSE: JNJ) (\"Janssen PMP\") have signed an Exclusive Evaluation and Option Agreement (the \"Agreement\") to test and develop MustGrow's biological mustard plant-based technologies for certain postharvest food preservation storage applications globally. Pursuant to the Agreement, MustGrow has granted Janssen PMP the exclusive right to test MustGrow's mustard-based technologies for postharvest storage preservation of fruits and vegetables globally, excluding grains, potatoes, bananas and shipping container fumigation. The Agreement also specifies that Janssen PMP will fund and drive all application testing and development work.Fruit and vegetable crops play a critical role in global food nutrition. More than one-third of produce (approximately US$1 trillion) is lost or wasted in postharvest operations,(1) which includes loss attributed to fungal and bacterial diseases. Fresh vegetables are highly perishable living tissues that are particularly susceptible. Postharvest fungal and bacterial diseases can cause annual vegetable crop losses of 40-60% (2). Reducing postharvest losses could substantially increase food availability, reducing pressure on the mounting food supply shortage and global inflationary pressures with respect to food prices. In addition, food production could be more environmentally sustainable with less waste. \"Being able to control postharvest pathogens with an effective natural volatile such as MustGrow's mustard-based technologies could be an important market development. Decay control remains a necessity on many fruits and vegetables globally to reduce waste and to support fresh produce trading locally and internationally,\" said Geoffroy de Chabot-Tramecourt, Director R&D...