Combined Expertise to Accelerate Development and Commercialization of New Crop Trait Focused on Improved Nutrition
DAVIS, Calif. and INDIANAPOLIS (August 8, 2017) – Arcadia Biosciences, Inc. (Nasdaq: RKDA) and Dow AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical Company (NYSE: DOW), today announced a collaboration to jointly develop and commercialize a breakthrough improved wheat quality trait in North America. The collaboration leverages Arcadia’s leading non-GM TILLING trait development platform with Dow AgroSciences’ enabling technology platforms, high-quality elite germplasm and global commercial channels.
Under the collaboration, the companies will further develop and commercialize an improved wheat quality trait, which has completed initial field trials and is advancing to next-stage field trials. Dow AgroSciences will introgress Arcadia’s trait into its proprietary elite germplasm lines and manage all aspects related to the trait commercialization. Certain development costs will be co-funded under the collaboration agreement, and the commercial value will be shared by Arcadia and Dow AgroSciences.
“Wheat is a staple crop around the globe, and our scientific expertise can help improve the nutritional profile and quality of this important crop by enhancing its value for human health and consumption while also enabling farmers to produce an added value crop,” said Rolando Alegria, global business leader, wheat, forages and sorghum, Dow AgroSciences.
“This collaboration reflects the unique nature of Arcadia’s business model, expanding our access into the growing market of improved nutrition traits with an established leader in agriculture,” said Raj Ketkar, president and CEO of Arcadia Biosciences. “Dow AgroSciences’ experience in value-added crops is a perfect complement to Arcadia’s portfolio of nutritional quality traits. Together, we can accelerate the development and commercial deployment of improved nutrition crop traits to deliver significant added value to growers, food manufacturers and consumers.”
Specific financial and trait details of the collaboration were not disclosed.
About Arcadia Biosciences, Inc.
Based in Davis, Calif., Arcadia Biosciences (Nasdaq: RKDA) develops agricultural products that create added value for farmers while benefitting the environment and enhancing human health. Arcadia’s agronomic performance traits, including Nitrogen Use Efficiency, Water Use Efficiency, Salinity Tolerance, Heat Tolerance and Herbicide Tolerance, are all aimed at making agricultural production more economically efficient and environmentally sound. Arcadia’s nutrition traits and products are aimed at creating healthier ingredients and whole foods with lower production costs. For more information, visit www.arcadiabio.com.
About Dow AgroSciences
Dow AgroSciences discovers, develops, and brings to market crop protection and plant biotechnology solutions for the growing world. Based in Indianapolis, Indiana, USA, Dow AgroSciences is a wholly owned subsidiary of The Dow Chemical Company and had annual global sales of $6.2 billion in 2016. Learn more at www.dowagro.com. Follow Dow AgroSciences on Facebook, Twitter, LinkedIn, and Google+, or subscribe to our News Release RSS Feed.
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Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to Arcadia’s strategic partnership with Dow AgroSciences to develop and commercialize agricultural traits. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: Arcadia’s and its partners’ and affiliates’ ability to develop commercial products incorporating its traits, including healthy grain traits, and complete the regulatory review process for such products; Arcadia’s compliance with laws and regulations that impact the company’s business, and changes to such laws and regulations; Arcadia’s future capital requirements and ability to satisfy its capital needs; and the other risks set forth in Arcadia’s filings with the Securities and Exchange Commission from time to time, including the risks set forth in Arcadia’s annual report on Form 10K for the year ended December 31, 2016 and other filings. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.
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