As many of you know from our last few business updates, MVMD has crossed an exciting milestone as we transition from an R&D-focused biotech start-up business into a commercially focused biotech entity.
The team has been working hard on our three core lines of business, which include novel innovations that improve the administration and efficacy of nutraceutical health and wellness products, an agricultural plant signaling technology that organically drives increases in crop yields and supports the reduction of fertilizer usage, and the application of solubilized drugs to positively impact the health of husbandry animals and aquatic species.
Today we sent out a media release providing a complete overview of where we are at and the amazing progress the team has been making across the entire business.
A few highlights from the media release:
Nutraceuticals
- Our manufacturing partner has been working closely with our formulators on the final dissolution, flavouring, and production elements to support the launch of Circadian Wellness’ mushroom-infused products under their Eons brand, and MVMD’s proprietary product line, “Mountains Of …”.
- We are currently on track for full production readiness for both Eons products and MVMD’s proprietary brand products in the fall of this year.
- Our production partner has invested in the expansion of its manufacturing facility to provide dedicated space for the specialized equipment that MVMD requires to manufacture nutraceutical products that embody MVMD’s Quicksome™ technologies.
Agriculture
- Our Agriculture division has undertaken significant business development initiatives in order to leverage MVMD’s distribution rights for the innovative Agrarius agricultural product.
- We have strategically focused business development activity in Mexico, Central America, South America, and the United States of America given the size of agricultural output and the favourable farm crop cycles. The focus of our current business development activities has been to target very significant large-scale farming operations to induce trial activity on crops in order to demonstrate the specific crop yield improvements, plant resiliency, and the corresponding reduction in fertilizer usage where used.
- We currently have more than 30 active crop trials against a multi-million dollar field coverage pipeline that represents potentially significant future revenue and to date our effort has been well received by the initial large scale farming operations we have been trialing with. Additionally, we have been working through a strategy of targeting large food supply businesses where significant purchasing power of agricultural products exists.
- MVMD anticipates revenue from our Agrarius sales activity by the end of the 2023 calendar year based on the timing and logic of the crop trialing cycle, whereby farming organizations would personally validate the anticipated positive impact on their crop yields and/or fertilizer reduction after it has been trialed on their farm.
- We have hired key team members in South America to support our agriculture line of business objectives in Mexico, Central America and South America (LATAM), including in the areas of finance, operations, business development, and agronomy. To date, this team has been incredibly effective in advancing our trialing pipeline with key target partners and setting up the necessary business infrastructure for commercialization.
- I just recently arrived back home from a very successful trip to Panama with some of our key team members. MVMD plans to operate our LATAM sales operations primarily through a wholly owned subsidiary in Panama, which was formed along with three additional wholly owned subsidiaries to facilitate the registration of the Agrarius product in certain territories throughout LATAM and to facilitate product sales.
- The initial business development and Agrarius product registration processes are focused on Colombia, Brazil, Uruguay, Panama and Mexico. The registration process and timeline varies throughout the territories and it is anticipated that registration timing will be achieved at various times throughout the LATAM territories over the coming months, and in turn facilitate the ability to process sales orders.
Husbandry Animals / Aquatic Species
- MVMD has applied our Quicksol™ solubilization technology to the drug Ivermectin to create our Soluvec™ 1% product formulation. This product was designed to provide a safer and more effective solution that can be administered broadly across the husbandry animal and aquatic species marketplace.
- MVMD entered into an exclusive license agreement several months ago with our partner who is manufacturing and distributing commercial animal husbandry applications for Soluvec™1% inside the territory of the People's Republic of Bangladesh.
- Related to the license agreement and necessary government approvals, the pharmacokinetic trials conducted inside Bangladesh across husbandry and aquatic species categories have been completed by a third-party Contract Research Organization (CRO) and MVMD believes the results of these trials will positively support the value proposition necessary to secure requisite government approvals to commercialize inside Bangladesh in the 2023 calendar year.
- The Company has successfully worked with its consultants and third-party Contract Manufacturing Operator (“CMO”) in the United States to create its final formulation for its Soluvec™ 1% that has achieved the nine-month stability target of greater than 95% IVM purity. This formula was the basis of our licensee agreement and is the formula that will be manufactured in Bangladesh initially.
- I received an update from our partner a few days ago confirming from their perspective that they were on track to commence Soluvec™ 1% product sales inside Bangladesh before the end of the 2023 calendar year.
- MVMD continues to evaluate the opportunity to license its Soluvec™ 1% for additional target territories. To safeguard MVMD’s intellectual property and licensing royalty model, we have initially filed for Quicksol™ patent protection in 12 additional markets outside of the United States, including Canada, China, India, Mexico, Sri Lanka, Thailand, Philippines, Malaysia, Brazil, Peru, Argentina, and Chile.
- Yesterday we distributed a media release that confirmed our Soluvec™ 1% has gone through a peer review process (the method of evaluating submissions to an academic journal), and has been accepted for publication that parenteral administration of Soluvec™ led to an Ivermectin drug exposure approximately seven times higher than traditional oral drug dosing, with greater bioavailability, offering potential for enhanced therapeutic effectiveness. Peer-reviewed articles are considered a highly credible source due to the stringent process they go through before publication, so I am obviously very proud of our science team for this accomplishment and the credible third-party validation of our science. You can access the https://www.future-science.com/doi/10.4155/tde-2023-0021
As you can see, the MVMD team and our extensive network of partners has been making great progress on our commercialization objectives. I remain very proud of the progress our team has made as we continue to focus on positive outcomes to impact human, plant and animal health.
