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Donald Marvin, Inocucor ...
Donald Marvin, Inocucor president and CEO, tells GAI News that the double nod from the Canadian Food Inspection Agency was two years in the making.
"With these approvals we can move forward with the commercialization of the company's Synergro Free product targeting commodity row crops this coming growing season.
Synergro, our product for high-value produce, we can begin selling immediately," said Marvin, adding that the company has back orders to fill.
Andree-Lise Méthot, founder and managing partner of Montreal-based Cycle Capital Management, an early investor in Inocucor, tells GAI News Cycle was initially responsible for bringing Marvin, a transplant from the pharmaceutical industry, to the company.
In addition to Marvin, Cycle introduced the company to Jim Blome, chief executive at Bayer CropScience, who also chairs Inocucor's Board of Directors.
has an amazing team around him, very savvy people in the ag sector, in [intellectual property] in terms of genetics and other things.
He put together a team and it works very well with his investors including Cycle Capital and the people that we bring in, and I think he is really personally committed," she said.
"Independent studies have shown increased yields in strawberries of 30 percent or more," said Marvin
, adding that yields for other high-value produce crops using a Synergro-based treatment program have jumped anywhere from the high-single digits to between 40 and 50 percent, depending on the particular crop.
We are pleased with the results," said Marvin
Plus they have limited tools in their toolbox to treat crops because they are organic farmers," said Marvin
, adding that when conventional growers began noticing the yield pops among their organic peers they too starting asking for the product.
That's how we do it in the U.S.," said Marvin
also anticipates that the pair of U.S.-based family offices that backed the company in June 2016 also may commit additional capital for the Series B.
The lead investor in the Series B round, however, will be a first-time investor in Inocucor
"They will likely be joined by another new investor or two to fully complete the Series B financing," said Marvin
, adding that he
expects to make a formal announcement in the coming weeks.
The privately held company is not yet profitable as Inocucor
continues to plow revenue from the sale of its products back into the business.
expects, however, that in the next couple of years Inocucor will indeed become profitable.
Meanwhile, revenue growth from 2016 to 2017 is pegged at 75 percent to 80 percent of the previous year given the wider distribution and international expansion ahead.
A lot is going on in the soybean area for us," said Marvin
, adding that the company's Western Europe expansion is expected to be in Spain's high-value produce market.
"Bio-stimulants are well accepted and adapted in Western Europe and also heavily used in Spain's high-value produce growing regions," he
Indeed, part of the growth strategy at Inocucor
for capturing market share is by strategic M&A, and depending on the timing Marvin
could be seated on either side of the deal table.
"You will see us make acquisitions along the way in the specialty ag biologicals space to drive market leadership in this rapidly growing sector," said Marvin
As for an exit strategy, the end game could be one of several possibilities said Marvin
, including a potential sale to a strategic buyer.
"There is a lot of value to build under the curve, and we're in it for the long run.
While we have very patient investors, at some point you have to give all stakeholders a pattern of liquidity and for me it's really a clinical process one goes through to achieve that objective," said Marvin
, adding that there's no rush on the company's part to get there.
Through the company's proprietary ...
Through the company's proprietary fermentation process, these microbial products and their active bio-molecules give farmers new tools that naturally improve soil health and increase crop yields," said Donald R. Marvin, president and CEO of Inocucor.
has documented four years of enhanced yield increases and improved soil health through field trials and demonstrations conducted with commercial partners and customers in the U.S. and Canada.
Donald R. Marvin, president ...
Donald R. Marvin, president and CEO of Inocucor Technologies, has been a biotechnology entrepreneur and leader in the commercialization of new life sciences diagnostic and research technologies and products for more than 30 years.
Prior to joining Inocucor Technologies, he was the president and CEO of Cairn Associates Inc., a biotechnology, life science and consumer products strategy development and financial advisory firm.
Most recently, Donald R. Marvin was the president and CEO of IdentiGEN, Inc., a leading provider of DNA-based solutions to the agriculture and food industries.
He was a co-founder of Nasdaq-traded Orchid BioSciences, a pioneer in human DNA identity testing, where he served as its chief operating officer, chief financial officer and senior vice president of corporate development.
Donald R. Marvin
is a serial entrepreneur with a track record of building exceptional value for stakeholders at several life science and agri-food companies.
Formerly New Jersey's CFO of the year, he
has raised over $300 million in both private and public financings and completed nearly a dozen M&A transactions for his
Mr. Marvin has served on the boards of several public and privately held companies and currently serves on the board of MicroBiome Therapeutics, Inc.
He earned a B.S. in microbiology from Ohio State University and an M.B.A. in organizational behavior and finance from Iona College.
Don Marvin, President and CEO Inocucor
Our product development and formulation ...
Our product development and formulation scientists have produced a commercially proven, patented first-in-class bio-stimulant product that is available for California's high-value produce growers today," said Donald R. Marvin, president and CEO of Inocucor.
"We anticipate Inocucor will gain rapid acceptance from California's vast network of innovative, production-minded farmers, large and small, organic and conventional."
is already in discussions with California's leading agricultural product distributors and is currently in large-scale field trials with a cadre of the state's leading strawberry, tomato, lettuce and broccoli growers.
Inocucor Technologies Closes Extended Series A Financing at $6 Million | Inocucor
"Our business model calls for a range of bio-based products that ultimately will help farmers feed a growing population with fewer or no chemical inputs," said Donald R. Marvin, president and CEO of Inocucor.
growth strategy is focused on establishing commercial partnerships that include its intellectual property as a key ingredient for new bio-stimulation, bio-fertility and bio-protection products for large-scale production farmers.
It also plans to make strategic acquisitions that will hasten the commercialization of its proprietary microbial consortia technology and broaden its product pipeline.
Garden Solution, OMRI Listed® for organic production, is approved for sale in 27 U.S. states.
It is currently in use by farmers and greenhouse growers in North Carolina, South Carolina, Florida, Georgia and Virginia.
said Garden Solution's full registration in California, one of the world's largest agricultural economies, is imminent.