– Novel trait stack will help growers facing climate and
production challenges –
DAVIS, Calif. & ROSARIO, Argentina--(BUSINESS WIRE)--Oct. 29, 2018--
a joint venture between Arcadia
Biosciences, Inc. (Nasdaq: RKDA) and Bioceres
S.A., announced today that it has received approval in Argentina for its
HB4 drought tolerant trait stacked with herbicide tolerant traits in
soybeans. The approval allows Verdeca to incorporate tolerance to both
glyphosate and glufosinate-ammonium into the trait.
Argentina’s Secretariat of Food and Bioeconomy evaluated the food, feed,
environment and commercial impact of the stacked traits and approved
them for deregulation contingent upon trade approval by China. The
HB4-herbicide tolerance trait stack is Verdeca’s newest release from its
pipeline of traits developed to benefit soybean producers through
quality improvement or stress mitigation.
More than 50 million of the world’s soybean hectares are grown in
Argentina and Brazil, a region that has experienced significant drought
conditions in recent years. In the 2017-18 season, the HB4 trait would
have prevented millions in grain yield drought losses for Argentina’s
soybean farmers, and continuing use would reduce risk of losses due to
local or regional drought conditions every season.
Verdeca’s HB4 trait has already been approved in Argentina and by the
U.S. Food & Drug Administration. Regulatory submissions are currently
under consideration by the U.S. Department of Agriculture, as well as in
China, Brazil, Paraguay and Uruguay.
Commercial launch of the HB4 trait is contingent upon China’s regulatory
approval, which is expected by the end of 2019. In the meantime, this
regulatory approval of the HB4-herbicide tolerance stack will allow
broader on-farm testing.
“This novel trait stack will enable soybean growers to protect yields
under stressful climatic conditions while allowing low-cost, weed-free
production,” said Martin Mariani Ventura, general manager of Verdeca.
“The approval of this trait stack is another significant step for the
successful commercialization of HB4 technology in Argentina.”
Arcadia Biosciences and Bioceres formed Verdeca in 2012 to deploy
next-generation soybean traits in all key production regions, beginning
in South America and North America, which together represent nearly 80
percent of the harvested soybean acres globally.
Bioceres is a fully integrated agricultural biotechnology company
utilizing multiple technology platforms to develop and commercialize
products that enhance crop productivity and expand feedstock
applications. The company is owned by more than 250 of South America’s
largest growers. Bioceres is a major shareholder of Rizobacter, INDEAR
(Institute of Agricultural Biotechnology of Rosario), and Bioceres
Semillas. For more information visit www.bioceres.com.ar.
About Arcadia Biosciences, Inc.
Arcadia Biosciences, Inc. (Nasdaq: RKDA) develops and markets high-value
food ingredients and nutritional oils that help meet consumer demand for
a healthier diet. Arcadia’s GoodWheat™ branded ingredients deliver
health benefits to consumers and enable consumer packaged goods
companies to differentiate their brands in the marketplace. The
company’s agricultural traits are being developed to enable farmers
around the world to be more productive and minimize the impact of
agriculture on the environment. For more information, visit www.arcadiabio.com.
Verdeca, a U.S.-based joint venture between Bioceres and Arcadia
Biosciences, develops and deregulates soybean varieties with
next-generation agricultural technologies. Working in partnership with
South American growers, Verdeca aims to provide technologies that help
increase crop productivity, making more efficient and sustainable use of
land and water resources. For more information visit www.verdeca.com.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
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 their traits, and complete the regulatory review process
for such products; Arcadia’s compliance with laws and regulations that
impact Arcadia’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 10-K for the year
ended December 31, 2017 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181029005242/en/
Source: Arcadia Biosciences, Inc.
Jeff Bergau, +1-312-217-0419