MustGrow Biologics Corp (OTCMKTS:MGROF) Stock Continues to Move Higher
Yesterday MustGrow Biologics Corp (OTCMKTS:MGROF) announced that it had signed an extension with Janssen PMP, a Janssen Pharmaceutica NV division, for an Exclusive Evaluation and Option Agreement. The agreement in question is with regards to testing and developing the biological mustard plant-based technologies from MustGrow Biologics for specific global postharvest food preservation storage applications.
MustGrow and Janssen PMP, a Division of Janssen Pharmaceutica NV, Extend Exclusive Global Partnership
As per the provisions of the agreement, MustGrow Biologics had provided Janssen PMP with the exclusive rights to test its mustard plant-based technologies for postharvest preservation of vegetables and fruits at a global level. However, the testing would not include potatoes, bananas, grains, and shipping container fumigation.
The testing work had gone on for a year and after a number of pathways had been discovered for commercial uses of the technology, the two companies decided to extend the agreement so as to continue the development of the technology from MustGrow Biologics. It had also been specified in the agreement that the funding of all the testing and development work would be funded by Janssen PMP. The technology could be potentially vital due to the critical role that is played by fruits and vegetables with regard to nutrition.