MustGrow: Bayer Partner Poised for a Breakthrough in 2026
The blockade of the Strait of Hormuz is far more than just an energy crisis. It is also becoming a stress test for global food security. The Persian Gulf region is also one of the world’s key exporters of sulphur and urea—both essential raw materials for fertilizer production. Supply disruptions could therefore have consequences ranging from lower crop yields to severe food supply shortages. Against this backdrop, TerraSante, the biofertilizer product developed by MustGrow Biologics, is becoming increasingly relevant.
TerraSante is based on mustard plants and addresses one of the biggest trends in modern agriculture: more sustainable and efficient soil management. The biological powder is designed to improve soil quality and the soil microbiome, increase nutrient and water efficiency, and ultimately enable higher crop yields over the long term. Particularly noteworthy is that the product contains no artificial additives or preservatives and complies with the strict OMRI and California OIM standards for organic agriculture.
After generating initial revenue last year—which could have been even higher had the product not temporarily sold out—the company is now aiming for a major commercial breakthrough in 2026. To that end, MustGrow is currently focusing heavily on the US market. As one of the world’s most attractive fertilizer markets, it represents an estimated annual market volume of around USD 3.5 billion. Initially, MustGrow is targeting a market share of approximately 3%, equivalent to potential annual revenue of around USD 100 million. By comparison, the company is currently valued at roughly CAD 35 million.
Most recently, TerraSante received distribution approval in the state of Georgia. This is a significant step for MustGrow, as Georgia is one of the leading agricultural regions in the US—particularly for peanuts, pecans, and blueberries. In addition to Georgia, TerraSante is now also registered in California, Arizona, Idaho, Oregon, Washington, and Florida.
May 20, 2026, could prove particularly interesting for investors. On that date, MustGrow President & CEO Corey Giasson will present at the virtual International Investment Forum (IIF), where the company is expected to provide further updates on its commercial development.
At the international level, MustGrow is working together with local companies to expand TerraSante’s footprint. And in the field of biological crop protection, the company is collaborating with Bayer. The product, TerraMG™, is currently in the regulatory approval phase.
Bayer: Acquisition in the Pharmaceutical Sector
Bayer has secured licensing rights to MustGrow’s ecological biopesticide TerraMG for Europe, Africa, and the Middle East. The Leverkusen-based company is even covering the regulatory approval costs for these regions, which are reportedly expected to amount to a double-digit million-dollar figure. Bayer’s financial strength — and its willingness to fully acquire strategic partners in some cases — was once again recently underscored.
The Leverkusen-based company plans to acquire Perfuse Therapeutics for up to USD 2.45 billion. Bayer will initially pay USD 300 million upfront, with additional milestone payments tied to development, regulatory approvals, and commercial progress. Perfuse is a US biotech company focused on eye diseases and is developing PER-001, a novel drug targeting glaucoma and diabetic retinopathy. The drug is already in Phase II clinical trials and aims not only to treat symptoms but potentially to influence the progression of the disease itself.
Bayer shares are currently working on finding a bottom around EUR 37. In mid-February, the stock had reached a multi-year high of EUR 50 but was unable to sustain that level. Last Friday, analysts reaffirmed their “Buy” recommendation and set a fair value of EUR 52. They point to expert commentary favourable to Bayer ahead of the US Supreme Court’s upcoming decision on glyphosate.
Rheinmetall: Battling Disappointment
Rheinmetall’s stock has been a tragedy this year. The stock of Germany’s largest defence contractor has lost around 30% of its value in 2026. The most recent setback occurred last Friday, when the stock lost about 9% and closed at just over EUR 1,200. JPMorgan was the catalyst. Analysts had slashed their price target from EUR 2,130 to EUR 1,500. The recommendation was downgraded from “Overweight” to “Neutral.” From the analysts’ perspective, the DAX-listed company is failing to execute its high-order backlog operationally. As a result, it has repeatedly missed expectations in recent quarters. Consequently, the analysts reduced their estimates for the coming years.
In addition, there are growing voices criticizing the Düsseldorf-based company’s product portfolio. It is said to be too heavily focused on “old-style” warfare. The latest announcement marks a step toward the modern world. Rheinmetall plans to produce cruise missiles in the future. This is particularly interesting, as the German government has so far been unsuccessful in its efforts to purchase “Tomahawk” cruise missiles from the US. Rheinmetall plans to begin production of the “Ruta 2” at its Unterlüß site before the end of this year. The cruise missile was developed in collaboration with the Dutch defence firm Destinus and has a range of approximately 700 km.
The environment for rising demand at MustGrow appears highly favourable. If revenue picks up in the coming months, the stock could enter a revaluation phase. At Bayer, investors are closely awaiting the decision from the US Supreme Court, which is likely to drive the stock decisively in one direction or the other. At Rheinmetall, sentiment is currently strongly negative. However, the stock increasingly appears technically oversold.
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