Mustgrow Biologics

What Mustgrow Biologics does

MustGrow Biologics Corp. is a publicly-traded Canadian agricultural biotechnology company headquartered in Saskatoon, Saskatchewan (TSXV: MGRO, OTCQB: MGROF, FRA: 0C0) that develops and commercializes biological crop solutions derived from the natural defense mechanisms of mustard seeds. The company operates two primary commercial products: TerraSante, an OMRI Listed organic biofertility wettable powder registered in 10 U.S. states that improves soil health and crop yields by feeding beneficial microbial activity, and TerraMG, a liquid biocontrol concentrate applied through standard drip or spray equipment that targets soil-borne pests and diseases. The underlying platform is protected by approximately 108-110 issued and pending patents and has been validated through over 150 independent tests, with reported outcomes including up to 95% clubroot spore reduction and 7 bushels per acre yield improvement in canola, 100% control of Fusarium wilt TR4 in banana trials in Colombia, and 2 tons per acre potato yield increases in Washington State and Idaho field trials.

MustGrow generates revenue through a hybrid model combining direct commercial sales of TerraSante to U.S. farmers at approximately $180 per acre (delivering roughly $5,000 per acre in incremental farmer value), exclusive regional distribution agreements (e.g., G.S. Long Co. for Oregon and Washington), and licensing partnerships with global agriculture majors. The Bayer commercial license agreement covering Europe, Middle East, and Africa represents potential value of USD $35-40 million in upfront fees, milestone payments, royalties, and manufacturing sales; Janssen PMP (a Johnson & Johnson company) holds exclusive global rights for postharvest food preservation applications; and Sumitomo Corporation holds exclusive Americas distribution rights for preplant biocontrol technologies. The company acquired NexusBioAg from Univar Solutions in January 2025 for approximately CAD $1.662M to establish a Canadian distribution platform, then closed that division in April 2026 to concentrate capital and management attention on TerraSante's U.S. growth trajectory.

Revenue grew from $0.4M in FY2024 to $8.3M in FY2025, a 377% increase in TerraSante sales, although Q1 2026 revenue declined to $0.1M as contract manufacturers transitioned from batch to continuous production lines to scale capacity. The capital structure is tight at approximately 70.4 million basic shares outstanding and 91.9 million fully diluted (as of mid-2026), with insiders and advisors owning approximately 17% of basic shares. MustGrow closed two non-brokered LIFE Offerings in H1 2026 totaling approximately $5.74M to fund TerraSante inventory production and working capital.

Name

Mustgrow Biologics

Legal name

Mustgrow Biologics Corp.

Website

https://mustgrow.ca

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

MustGrow Biologics is a publicly-traded Canadian agricultural biotech company that develops and commercializes mustard seed-derived biological products (TerraSante biofertility, TerraMG biocontrol) for crop protection and yield improvement, selling directly to U.S. farmers and through global licensing partners including Bayer and Janssen PMP.

Ownership category

akta.pro rank

Product category

Agricultural Biological Products (Biocontrol and Biofertility)

NAICS

Pesticide and Other Agricultural Chemical Manufacturing (32532), Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing (3253)

SIC

Agricultural Chemicals (2870), Medicinal Chemicals & Botanical Products (2833), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Botanical Biopesticides & Plant Extracts (Essential Oils, Neem, Pyrethrins) (AFABAEAF)

akta.pro secondary industries

Biological Formulation, Fermentation & Scale-Up Manufacturing (AFABAEAM), Seed Treatment Chemicals (IMAEAEAJ), Oilseed & Pulse Seeds (Canola/Rapeseed, Sunflower, Pea, Lentil, Chickpea) (AFABAFAC)

Keywords

• Biological crop protection
• Mustard-derived biopesticides
• Organic biofertility products
• Regenerative agriculture solutions
• Soil health biocontrol

Headquarters

HQ city

Saskatoon

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. TerraSante Product Sales: Direct sales of organic biofertility product TerraSante to commercial farmers in U.S. states where registered. Revenue grew 377% to $0.6 million in 2025. Manufacturing transitioning from batch to continuous production lines.
2. Bayer Licensing Revenue: Upfront license fees, milestone payments, royalties, and manufacturing sales from Bayer commercial license agreement covering Europe, Middle East and Africa. Anticipated value of USD $35 to $40 million over several years from upfront, milestones and development work.
3. NexusBioAg Distribution: Revenue from NexusBioAg Canadian distribution platform acquired in January 2025. Division was closed in April 2026 to focus on TerraSante U.S. growth.
4. Sumitomo Partnership Revenue: Revenue from Sumitomo Corporation partnership for Americas distribution of MustGrow technologies. Program transitioned from evaluation to exclusive agreement.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

MustGrow Biologics develops, manufactures, and commercializes biological and regenerative agriculture products derived from the natural defense mechanisms of mustard seed. Its core commercial offerings are TerraSante, an OMRI Listed organic biofertility wettable powder that improves soil health and crop yields, and TerraMG, a liquid mustard-derived biocontrol/biopesticide for soil-borne pests and diseases. The company sells TerraSante directly to U.S. commercial farmers in registered states and licenses its broader mustard-derived platform to global partners (Bayer, Sumitomo, Janssen PMP) for additional applications.

Product overview

MustGrow Biologics is a biological and regenerative agriculture company with a 100% owned patented mustard-derived technology platform. The company operates two core commercial products: TerraSante (an OMRI Listed organic biofertility and soil amendment product registered in 10 U.S. states) and TerraMG (a liquid biocontrol/biopesticide technology targeting clubroot and soil-borne diseases). Following the January 2025 acquisition of NexusBioAg, the company also operates a Canadian distribution platform. Outside of North America, MustGrow commercializes its technologies through licensing partnerships with Bayer (EMEA) and Sumitomo (Americas).

Differentiator

Problem solved

Functional benefit

Brands

• TerraSante: Mustard plant-derived organic biofertility product designed to improve soil health, nutrient uptake, and crop yields. Registered in multiple U.S. states under OMRI Listed certification.
• TerraMG

Products and services

• TerraSante Mustard plant-derived organic biofertility product (wettable powder) designed to improve soil health, nutrient uptake, and crop yields for commercial farmers growing high-value fruit and vegetable crops. OMRI Listed for organic use and sold in package sizes at approximately $180 per acre application cost in registered U.S. states.
• TerraMG Plant-based liquid biocontrol/biopesticide derived from mustard seed, targeting soil-borne pests and diseases (notably clubroot in canola) and applied through standard drip or spray equipment. PMRA-approved in Canada for canola, pulse crops, and potatoes and supplied to field trials.

Quantifiable outcome

• 2 tons per acre potato yield increase in Washington State and Idaho trials
• +6 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered minor and core.

• Market One Media Group Inc.minorGTM or Marketing Partner · 14 May 2026Media services agreement for investor outreach at $70,000 CAD over 12 months. Arm's length transaction disclosed per TSXV requirements.
• GBC AGminorGTM or Marketing Partner · 14 May 2026Paid market research agreement targeting German and European investors at EUR 40,000 per year over 24 months. GBC AG initiated coverage on MustGrow with Buy rating and EUR 1.66 (CAD 2.70) price target.
• Agriculture and Agri-Food Canada (AAFC)minorStrategic or Co-development Partner · 18 December 2025Funding received to investigate mustard-derived ingredient opportunities in human and animal health applications including functional foods, nutraceuticals, natural food preservatives, and antibiotic replacements for animal feeds. Research at AAFC's Guelph Research & Development Centre.
• Bayer AGcoreChannel Partner/ Reseller/ Distributor · 11 December 2023Commercial license agreement covering soil applications of MustGrow's mustard-based biocontrol technologies in Europe, Middle East and Africa. Bayer responsible for regulatory and market development. MustGrow to receive upfront fees, milestone payments (USD $35-40M anticipated), royalties, and manufacturing sales.
• BioAg Product StrategiesminorStrategic or Co-development Partner · 5 June 2023Agreement to develop and commercialize soil amendment and biofertility technologies. BioAg providing sales and marketing commercialization strategy for TerraSante in Washington State and other regions.
• Janssen PMP (Johnson & Johnson)coreStrategic or Co-development Partner · 23 May 2023Exclusive global partnership extended to test and develop MustGrow's biological mustard plant-based technologies for postharvest food preservation storage applications for fruits and vegetables (excluding grains, potatoes, bananas, shipping container fumigation). Janssen PMP funds and drives all testing and development work.
• Gowan GroupminorStrategic or Co-development Partner · 15 September 2022Non-exclusive agreement with Gowan Group's biological business for carnation trials. Work completed under existing partnership framework.
• NexusBioAg (Univar Solutions)coreChannel Partner/ Reseller/ Distributor · 20 July 2022Exclusive marketing and distribution agreement for TerraMG in Canadian canola and pulse market. MustGrow acquired NexusBioAg from Univar Solutions in January 2025 for approximately $1.662M deferred payment plus earn-outs. NexusBioAg division closed April 2026 to focus on U.S. TerraSante growth.
• Sumitomo CorporationcoreChannel Partner/ Reseller/ Distributor · 4 August 2021Exclusive agreement for evaluation and commercialization of MustGrow's preplant biocontrol technologies in the Americas. Program advanced from evaluation to exclusive agreement following successful banana field trials in Colombia.

Scale indicators13 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Indigo Ag: Commercial-stage agricultural biologics company marketing microbial seed treatments and foliar bioproducts for row crops and specialty crops. Directly comparable to MustGrow as a biological-input alternative to synthetic chemistry, with similar go-to-market motion of replacing or complementing traditional fertilizers and pesticides.
• Pivot Bio: Sells microbial nitrogen-fixing biofertility products that displace synthetic nitrogen fertilizer in corn and other crops. Closely comparable to MustGrow's TerraSante biofertility/soil-microbiome thesis and its regulatory and channel strategy of displacing synthetic inputs with biologicals.
• Sound Agriculture: Develops biofertility and biostimulant products (notably the SOURCE molecule and microbial amendments) targeting soil microbiome activation and nutrient-use efficiency — an almost direct analog to TerraSante's soil-microbe-feeding thesis for high-value crops.
• AgBiome: Microbial-based biological crop protection company developing biopesticides and biostimulants from a proprietary microbial strain library. Comparable to TerraMG / MustGrow's biocontrol franchise as a biological alternative to synthetic pesticides in fruits, vegetables, and row crops.
• Bioceres Crop Solutions: Public biological agriculture company with a portfolio of biofertilizers, biostimulants, biocontrols, and inoculants. Comparable to MustGrow's full biological stack across multiple crop types and geographies.
• Certis Biologicals: Specialty biological crop protection business (formerly part of Mitsui & Co.) developing and marketing biopesticides, biofungicides, and bioinsecticides globally. Closely comparable to MustGrow's biocontrol/biofungicide commercialization approach and EPA-approval-driven distribution model.
• Symborg: Spanish-origin biological inputs company with a portfolio of biostimulants, biofertilizers, and biocontrol products distributed globally, including in U.S. specialty crops and Mediterranean fruit & vegetable markets. Comparable in product mix and channel strategy to MustGrow's TerraSante/TerraMG.

Emerging players

• Locus Agricultural Solutions: Microbial soil treatments and biological inputs targeting specialty crops and row-crop soil health. Comparable to MustGrow's biofertility strategy and emerging in similar U.S. specialty-crop grower channels.

Broad incumbents

• Bayer Crop Science: Global agrichemical and seed major with a growing biologicals portfolio and MustGrow's EMEA commercialization partner. Comparable as a broader incumbent overlapping MustGrow's categories at scale, while also being a direct distribution counterparty.
• Syngenta (Crop Protection): Global crop protection and seed incumbent with an expanding biologicals platform (acquired Valagro, biological seed treatments). Comparable as a broad incumbent operating in biofertility, biocontrol, and biostimulant categories where MustGrow competes and partners.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/mustgrowbio?lang=en
• YouTubeyoutube.com/channel/UCjYUfgCm1feH-0RGTpCpgJg/featured
• Facebookfacebook.com/MustGrowBio
• LinkedInlinkedin.com/company/mustgrow-biologics

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mustgrow Biologics