-- Seasoned agribusiness executive to help prepare drought
tolerant soybeans for commercial launch --
DAVIS, Calif. & ROSARIO, Argentina--(BUSINESS WIRE)--Jul. 11, 2018--
Arcadia
Biosciences, Inc. (Nasdaq: RKDA) and Bioceres
S.A., today announced they have hired Martin Mariani Ventura as
general manager of Verdeca, a joint venture to develop, deregulate and
market soybean varieties with next generation agricultural technologies.
Mariani Ventura is a seasoned agribusiness executive with nearly 20
years of experience in various roles, including business strategy,
product licensing and commercialization, sales, marketing and research
and development. Most recently he served with FMC Quimica Argentina,
where he managed the insecticide and herbicide portfolio for the
Southern Cone region of Latin America. Before that, Mariani Ventura
worked for both DuPont Argentina and Monsanto Argentina, and earlier in
his career, he worked with Bioceres. While at Monsanto Argentina,
Mariani Ventura was instrumental in the launch of their Intacta insect
resistant soybean trait in Latin America South.
“Martin’s experience in product strategy, trait licensing and
commercializing new products will be invaluable as Verdeca prepares for
the launch of its HB4 drought tolerant soybeans,” said Raj Ketkar,
president and CEO of Arcadia. “We look forward to working with him to
build the capabilities needed to bring this important trait to market.”
In multiple field trials, Verdeca’s HB4 soybeans have produced stable
and high yields under multiple stresses typically found in soybean
production areas, including drought and low-water conditions. HB4
soybeans have undergone extensive testing, including six seasons of
multi-location field trials in Argentina and the United States and two
years of regulatory field trials. Verdeca is currently working with
partners to breed the HB4 trait into elite soybean varieties.
“During the 2017-18 drought in Argentina, local soybean farmers have
lost an estimated five billion U.S. dollars of crop value beyond what is
normally lost due to sporadic drought conditions every year, reminding
all of us about the importance of developing solutions to mitigate these
adverse weather effects,” said Federico Trucco, Bioceres’ CEO.
“Verdeca’s HB4 technology is the only seed technology available today
that addresses this specific problem in soybeans. Under Martin’s
leadership, we hope to expedite the delivery of this solution to local
and regional farmers, through proprietary as well as third party high
yielding varieties.”
Arcadia and Bioceres formed Verdeca in 2012 with a goal of deploying its
soybean traits in all key world regions, beginning in South America and
North America, which makes up close to 80 percent of the global soybean
acres, and exporting to China, which is the world’s largest importer of
soybean products. 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 and in Brazil and China.
About Bioceres
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 portfolio of 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.
About Verdeca
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/20180711005222/en/
Source: Arcadia Biosciences, Inc.
Arcadia Biosciences
Jeff Bergau, +1-312-217-0419
jeff.bergau@arcadiabio.com
or
Bioceres
Laura
Amelong, +54-341-4861100
laura.amelong@bioceres.com.ar
