Utah, USA
August 4, 2020
>> Interview with Pam Marrone (see below)
Primary BioAg Innovations (PBI) and Global BioAg Linkages (GBAL) today announced that successful serial BioAg entrepreneur Dr. Pam Marrone will become chair of the board of directors and partner in both companies. Dr. Marrone will mentor the innovation stream at PBI as well as be the Managing Director for Merger, Acquisition & Fund Raising vertical of GBAL, to support small and medium size BioAg business.
Dr. Marrone started and led three BioAg companies during the past thirty years. Dr. Marrone recently retired as CEO at Marrone Bio Innovations, which she founded in 2006. From 2015 to 2019, Marrone Bio had a compounded annual growth rate of 32% and grew gross margins from 5% to 54.9%. In 2019, Marrone Bio delivered record revenues of $29.4 million – a 38 percent increase -- and record annual gross margins of 54.9%.
PBI and GBAL were both started in 2019 by another BioAg industry veteran, Roger Tripathi. PBI provides a unique platform for sincere BioAg innovators to commercialize integrated sustainable soil-to-shelf plant health solutions for farmers, globally. Hundreds of millions of dollars are going into research and development of biological products for agriculture, however many of these innovative companies need a dependable channel to market. After investing on R&D, it can be challenging and difficult for a small company with one or few products to access the market and gain market adoption, “cross the chasm” to mainstream customers and successfully scale. The founder of PBI set up a unique platform to provide commercialization partnership opportunities to outstanding innovators. PBI links innovators with distribution partners around the globe and helps provide the needed customer education on how best to use biologicals in integrated programs.
GBAL’s mission is to be the true agribusiness partner, business match maker and accelerator, linking BioAg companies to ensure the successful development of biological products across the globe. GBAL acts as a part-time, committed addition to a team, fully supporting business management, corporate development, licensing, joint ventures, acquisitions, strategic alliances and fund raising. GBAL also organizes the BioAg World Congress to bring together the BioAg industry to take an in-depth look at industry developments, roles of the food chain to influence biosolution adoption, soil health and water management, challenges and opportunities on regulation, go-to market, science-backed innovations, investment in BioAg, and insight into growth areas such as precision AgTech. The first BioAg World Congress was held in Delhi, India last year. This year, the Congress to be held in Sacramento, CA, has been delayed due to the COVID-19 pandemic and will likely be pushed into 2021.
“Post Marrone Bio Innovations, I wanted to continue to have an impact in moving agriculture to become more sustainable and bio-intensive. When Roger contacted me about the opportunities with his new companies, I quickly could see how the two of us teaming up would have complementary and synergistic skills and experience to realize a joint vision to pursue our passion in the BioAg industry,” said Dr. Marrone.
When I heard that BioAg icon Pam Marrone was retiring from her position at Marrone Bio, I could immediately realize, that with her evergreen passion and drive, Pam still had a lot to give the industry and to our farmers. We knew that the two of us would be a powerful team to help move biological innovations to the global market and at the same time bring business solutions to the BioAg industry,” said Roger Tripathi.
About Founder and CEO Roger Tripathi:
Passionate and persistent global business leader with broad based multinational-multicultural background, Mr. Tripathi worked and lived in most continents, enjoys change management challenges in taking the businesses to the next level, and doesn’t believe in ‘good enough.’ Mr. Tripathi is a proactive manager, natural leader, team builder and tactical business planner with the ability to manage multiple projects with a ‘win-win’ outcome for all involved. He is recognized for securing, building, and keeping long lasting business relationships externally and internally with proven ability to face challenges head on and execute flawlessly. Mr. Tripathi started his career in the seed industry, then worked for Bayer Crop Science and held senior executive positions with the two leading biostimulant companies before founding PBI and GBAL.
About Chair of the Board Dr. Pam Marrone:
Pam is a passionate and energetic serial entrepreneur who is a thought leader in the BioAg industry, successfully bringing multiple science-based products to market and scaling two BioAg companies from founding to a consistent high growth revenue stage. She is skilled at raising money from angels, VCs, public markets and debt. She also is experienced at M&A, turnarounds, technology licensing and acquisition, and building intellectual property portfolios. She gives back to the community by serving on not-for-profit boards such as Cornell University and the Association for Women in Science. She is dedicated to mentoring and advising entrepreneurs, especially women founders. She speaks regularly on entrepreneurship and sustainable ag, agtech and ag biologicals, organizational culture, and corporate ethics. Since 1990, Pam founded and led three BioAg companies in Davis, California (Entotech, AgraQuest and Marrone Bio Innovations). Pam started her career at Monsanto Company searching for microbes to develop natural products for pest management.
Interview with Pam Marrone, Partner and Chairperson: Primary BioAg Innovations (PBI) and Global BioAg Linkages (GBAL), and MD - Merger, Acquisition and Fund-Raising vertical, GBAL
To read more about Pam Marrone, please click on the image above.
In this exclusive interview, Pam Marrone, talked about her new innings or last hurrah as she termed it. The discussion started with her choice of combining forces with Roger and Primary BioAg Innovations and Global BioAg Linkages, and her commitment to continue within BioAg Industry and what keeps her going. Pam talked about her plans and various issues in the industry focusing on global farming community, soil health, role of AgTech, food safety, COVID-19 pandemic and the measures for enforcing social isolation.
Q1: Pam, you are a serial entrepreneur and have had quite a few successes and some heartbreaks, how would you describe your journey and regrets, if any?
Pam: The work I have done with my teams have certainly had an impact in moving the biologicals forward over three decades. I am very proud of starting from scratch and successfully scaling two biopesticide companies to tens of millions of dollars in revenues. I don’t know if that has been done before! The products we have developed are innovative with new modes of action, bringing an increased ROI to growers when used in integrated programs. True learning comes from a blend of success and failure. I had some big setbacks, which helped me learn and grow, enriching my journey. I regret my mistakes in hiring employees and bringing in Board members whose actions set back the companies’ progress by years. That said, at Marrone Bio, I am truly proud of the employee-driven, diverse culture we have created together out of adversity.
Q2: How would you rate the BioAg industry as of now and future challenges and opportunities?
Pam: It depends on whether you are talking about biopesticides or biostimulants/biofertilizers. The biopesticide segment has gone through a transformation in the past 25 years, the products have improved with the progress in molecular biology and genomics as well as fermentation and formulation. The regulatory barriers mean that only a few companies can start up and survive to scale in the biopesticide space. The biostimulant and bionutrient/biofertilizer segment is in the throes of same kind of transformation, but the lower regulatory barriers mean too many companies with “bugs in a jug” or “bathtub brews”, snake oils as Roger calls them, without enough scientific rigor and quality control behind them. This is changing as more science-based companies enter the field.
I am pleased to see more and more farmers adopting biologicals but we still have a long way to go to see truly ecologically based/biointensive crop production and pest management. The BioAg industry needs to see an increase in the proficiency of university extension specialists and other public researchers in biologicals. Many existing IPM programs are outdated and do not reflect the products and modes of action available to today’s growers. Trials should be conducted with integrated programs rather than just stand-alone comparisons and because of their unique modes of action, marketable yields with biopesticides may be the same or even better than chemicals. To support the adoption of biologicals more public funding should focus on the development of integrated program at the farm level, starting with soil health. It’s high time now and we need to combine all the available knowledge, cultural practices, and all the tools together to build a truly resilient and regenerative system.
Q3: What makes you combine forces with Primary BioAg Innovations and Global BioAg Linakges as chairman of both companies?
Pam: Although I have had a long career with 30 years as a CEO of three bioag companies, my work in biologicals is not yet complete. Biologicals are still teeny in market share compared to chemical pesticides. I would like to continue to have an impact to see biologicals grow much further, globally. I want to work with people who are as passionate about biologicals as I am and are focusing their energy on advancing biologicals – for the grower, the consumer and the planet, but not for selfish egos. I have put up with a lot in my career (I’ll save the stories for a future book), so at this stage of my career, I am now better equipped to choose what to do and who to work with. I saw Primary BioAg Innovations and Global BioAg Linkages in Rogers’ leadership have true synergies, passion, like-mindedness and uniqueness to be able to support adoption of bio-products globally.
Q4: Roger is known to be a live wire business builder and you are known as serial entrepreneur with a never-give-up attitude, what plans do you have together — What strategic and forward-looking significance does it have for the BioAg segment?
Pam: The global network and unique business model that Roger has put together is impressive is much needed commercialization platform for young innovators. He is a bundle of energy with so much passion about biologicals. I chuckle how he pushes and pushes ahead (nicely annoying) – all in the service of moving biologicals forward. Imagine what two people with not just a passion for biologicals, but decades of business experience and success, can do together. Watch out!
Q5: What is so special about these two businesses ie Primary BioAg Innovations and BioAg Linkages that you decided to make it your finish line?
Pam: There are a lot of BioAg inventors and entrepreneurs who don’t have a home for their discoveries and products. They may get their product to a certain stage, perhaps get a registration, then find out how hard it is to get into the market and gain adoption. Partnering with big companies has disappointed them. I see it time and time again. They are looking for advice. Roger and I understand that completely and together can build a powerhouse to move the plethora of good technology and products into the market with better information and training. I do not see anyone doing what is being done by PBI and GBAL. You must truly understand this industry and have years as a senior executive running a BIOLOGICALS business that gives insight to what is needed to take a product from A to B to C.
Q6: How has MBI performed in 2020 and what will be your role going forward with MBI as you are still part of the board with significant shares?
Pam: Marrone Bio had record first quarter revenues and gross margin. We continue to execute successfully on our plans to grow revenues at rates well above industry rates (through geographical expansion, selected product launches and increased market share), continue to grow our gross margins and manage our expenses to get to EBITDA breakeven in the near term. I am proud to be leaving Marrone Bio as CEO in the best and strongest position it has ever been. I will continue to consult with Marrone Bio as needed and serve on the Board. Yes I have significant shares of MBII and like all our other shareholders, want to see them rise in value like we think they should be based on our results and progress.
Q7: Lastly, what are your plans for your retirement, will you ever retire ☺? Will we see you at BioAg World Congress in October 2020.
Pam: People retire from work, not from their passions. I don’t see myself truly retiring for many years yet. Like I do, my husband has a vocation – clinical social work. He is an adjunct professor, teaching in the Smith College School of Social Work. He works very hard and is always busy so that fits well with my continuing to want to do things that have an impact on agricultural sustainability.
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About Primary BioAg Innovations (PBI):
BioAg Innovations provides the first of its kind global commercialization platform for innovators who have spent millions in developing outstanding biological technology but have limited or no access to the global market. The private-label model also makes it possible for innovation partners to continue with their branded commercialization strategy in parallel, if they wish to, especially for those products which do not come under PBI. Alternatively, with a unique profit-share model, BAI offers to take care of the global commercialization needs of its partners. The focused model depends on true partnerships with innovators and other stakeholders at each level of product distribution, targeting a tangible ROI for our farmers and safe food for consumers.
About Global BioAg Linkages (GBAL):
Global BioAg Linkages, as the name says, links people together all across the world to local experts in the agricultural industry through its global network. GBAL team works with you as part-time team members making its whole team your collective asset. Therefore, we want to get to the root of YOUR NEEDS TO HELP EFFICIENTLY. We are the only global network who provide eight different services under one umbrella, through highly accomplished local specialists. Our seasoned experts specialize in all areas including: business management, regulatory, M&A, fund raising, go-to market, product development, and more.
About: Pamela G. Marrone, PhD
Former CEO and Founder, Marrone Bio Innovations
Dr. Marrone recently retired as CEO of Marrone Bio Innovations (MBI), a company she started in 2006 to discover and develop bio-based products for pest management and plant health. On August 2, 2013, MBI listed its stock as MBII on NASDAQ. Under her leadership, the company commercialized 10 products from six EPA-registered active ingredients and in 2019 acquired Pro Farm Technologies to accelerate growth in the multibillion dollar seed treatment market. From 2015 to 2019, the company grew its revenues by 32% CAGR and gross margins from 5% to 56%. In the first quarter of 2020, MBI reached both record revenues ($9.7 million) and gross margins (58%). Prior to establishing MBI, Dr. Marrone founded AgraQuest (1995-2006) where she served as its CEO, Chairman and President. The company’s biofungicide Serenadeâ, which won the Presidential Green Chemistry Award, became the global biofungicide standard and was the first organically listed product in Wal-Mart’s garden section (>2000 stores) in 2003. Before AgraQuest, she was founding president of Entotech, Inc. (1990-1995), a biopesticide subsidiary of Novo Nordisk. Pam started her career in biopesticides by leading the Insect Biology group at Monsanto (1983-1990), which was involved in pioneering projects based on natural products and plant biotechnology.
She is a well-recognized leader in the biopesticide market as evidenced by the following awards; “Lifetime Achievement Award” for contributions in biopesticides by BioAg World, the “Sustie” award by the Ecological Farming Association, Agrow’s “Best Manager with Strategic Vision”, and the NRDC’s Growing Green Award in “Business Leader” category. She is the founder of the Bioproducts Industry Alliance, now a trade group of more than 200 companies. She advises several agtech startups, currently serves on the UC Davis Ag & Environmental Sciences Dean’s Advisory Council, and just finished her 4-year term as an alumni-elected Trustee of Cornell University. She is on the Executive Committee and is Treasurer of the Association for Women in Science and is a board member of the Foundation for Food and Ag Research. She holds several hundred patents and is most sought-after speaker to deliver keynote addresses on the future and potential of biologicals for pest management, innovation and entrepreneurship. She was elected by her peers as a Fellow of AAAS (American Assoc. for the Advancement of Science). Pam is one of very few in the industry that has twice taken a company from founding to scaling to many tens of millions in revenues. She is proficient in raising debt and equity, doing turnarounds, navigating companies through major crises, leading M&A, commercializing products, and building robust patent portfolios. She has a B.S. in entomology with Honors and Distinction from Cornell University and a Ph.D. in entomology from North Carolina State University.
https://www.bioaginnovations.com
https://www.bioaglinkages.com
https://www.bioagworld.com
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