Mondias Naturals Receives Mitacs Funding for the Botanical Product CELEXT07
Research to be Conducted at McGill University to Study CELEXT07 and the Role of Functional Microbiome in Cannabis Breeding Strategies Against Biotic Stress
MONTREAL, Nov. 18, 2019 /CNW/ – Mondias Natural Products Inc. (TSXV: NHP) specializing in evidence-based botanical products for the healthcare and bio-agriculture markets today announces the approval of a two-year Mitacs funding to develop a next-generation CELEXT07 plant biostimulant based on microbial consortia. According to agriculture industry market report, the biopesticide market is expected to exceed US $3B in 2019; and to reach US $6B by 2023. Established global players are actively seeking Natural Organic alternative products to enhance crop yield and to protect the food chain.
The funding is awarded to Professor Suha Jabaji at the Department of Plant Science, Faculty of Agricultural and Environmental Sciences McGill University. Mondias contribution of $80,000 will be matched by $60,000 from the Mitacs Elevate program, resulting in total research investment of $140,000.
Dr. Jamil Samsatly, Mondias CSO stated that "with this funding we continue to expand our research and development efforts for CELEXT07, a commercial stage product, in continued collaboration with McGill University. Mondias is developing a pipeline of targeted bio-agriculture derivatives based on CELEXT07 and having crop specificity. In this research program we are studying cannabis plant microbiome in order to improve safety, quality and yield of dried flower by treating fungal diseases from seed to soil."
Dr. Samsatly mentioned that "we are delighted to be awarded the Mitacs funding to further develop CELEXT07 with Dr. Jabaji and her research team at McGill. CELEXT07 was previously developed in collaboration with the same laboratory and in 2016 Mondias received a Canadian Food Inspection Agency (CFIA) approval as a specialty fertilizer for use in greenhouses, nurseries and golf courses." Dr. Samsatly also added that "CELEXT07 is our most advanced agriculture product and data demonstrated that it is a biostimulant and biocontrol agent that will be an important natural based crop management product once broader approvals are submitted and received internationally."
The Elevate Fellowship funding will commence upon confirmation of initial payment by Mondias prior to the fellowship start date and the appointment of a PhD lead investigator having Postdoctoral status at McGill University.
CELEXT07 is patent pending on herbal phytosanitary composition and methods for the prevention and treatment of plant infections in Australia, Brazil, Canada, China, European Union, and the US and the World Intellectual Property Organization (WIPO). Mondias has invested in research programs in collaboration with McGill's Faculty of Agricultural and Environmental Sciences to develop CELEXT07.
About Mondias Natural Products Inc.
Mondias specializes in the commercialization and development of evidence-based botanical products for the healthcare, bio-agriculture and organic markets. The company sells both oral and topical botanical agents to help manage unmet medical needs through its Holizen Laboratories division. Mondias is also developing botanical-based specialty fertilizers for use on household plants, lawns and golf courses and in urban gardens, nurseries and greenhouses, in collaboration with McGill's Faculty of Agricultural and Environmental Sciences.
For more information, visit: www.mondias.ca
About Mitacs
Mitacs is a not-for-profit organization that fosters growth and innovation in Canada by solving business challenges with research solutions from the best academic institutions at home and around the world. Working with more than 70 universities, Mitacs builds partnerships that support industrial and social innovation in Canada. Open to all disciplines and all industry sectors, projects can span a wide range of areas, including manufacturing, business processes, IT, social sciences, design and more. Mitacs is funded by the Government of Canada, the Government of Ontario, and every other province, as well as academic and industry partners.
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Forward-looking statements
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SOURCE Mondias Natural Products Inc.
Mondias Natural Products Inc., Patrick Frankham, PhD, MBA, Chief Executive Officer, 514-943-1899, [email protected]; Relations Publiques Paradox Inc., 514-341-0408
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