DAVIS, Calif. & EDMONTON, Alberta--(BUSINESS WIRE)--Jun. 16, 2015--
Arcadia Biosciences, Inc. (NASDAQ: RKDA), an agricultural biotechnology
company, announced a collaboration with Phytola, a leader in oilseed
crop research, to develop soybean varieties with increased oil content.
The research and development project recently received funding from
Genome Canada.
Based on research by Dr. Randall Weselake, scientific director of
Phytola, the project will use genome analysis to isolate soybean seed
traits that can enhance oil production in soybeans without negatively
affecting protein levels. Arcadia intends to validate the best targets
using its proprietary TILLING platform and genetics resources, and if
successful targets are identified, would lead commercialization efforts
in North and South America through Verdeca, its joint venture with
Bioceres S.A.
“We are excited to be working with Arcadia on this project,” said Dr.
Weselake. “Arcadia’s expertise in lipid biotechnology and development of
new crop varieties, together with their established partnerships in the
soybean industry, make them an excellent partner to advance Phytola’s
technology for increasing seed oil content.”
“This partnership with Phytola leverages Arcadia’s unique business
model, while expanding on our oilseeds expertise,” said Eric Rey,
president and CEO of Arcadia. “An oil-rich variety of soybeans would
enable farmers to use limited land resources more effectively, producing
even more value per acre of land.”
Arcadia has two nutritional oil products in its portfolio, Gamma
Linolenic Acid (GLA), which is commercially available, and Arachidonic
Acid (ARA) oil, which is in Phase 3 of its research and development
pipeline.
Soybean oil typically comprises 18 to 20 percent of the seed and is used
for cooking, as an ingredient in processed foods, and for industrial
purposes. Soybeans that produce more oil will offer increased value for
farmers, seed companies and processors.
Phytola and Arcadia researchers believe genomic modifications have the
potential to significantly increase soybean seed oil content, and they
aim to boost the oil content by up to 25 percent. Such a breakthrough
has the potential to be used in up to one-quarter of the growing global
soybean seed market, currently worth as much as $4.5 billion annually.
In Canada alone, the oil-rich seeds are expected to produce up to $68
million in added value annually.
“We are delighted to see leading businesses, such as Arcadia
Biosciences, taking up the opportunity to work with our genomics
researchers to pull valuable ideas and technologies out of labs and into
use in society,” said Dr. Pierre Meulien, president and CEO of Genome
Canada. “This project, in particular, will bring great benefits to the
Canadian soybean sector, which is growing in importance and value.”
About Arcadia Biosciences, Inc.
Based in Davis, Calif., Arcadia Biosciences 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. The company was recently listed in the Global Cleantech 100 and
was previously named one of MIT Technology Review's 50 Smartest
Companies. For more information, visit www.arcadiabio.com.
About Phytola
Based at the University of Alberta, Phytola performs research in lipid
biochemistry and molecular biology aimed at creating new opportunities
for Canada's oilseeds industry. Established in 2010 with funding from
Alberta Innovates Bio Solutions, Phytola works in partnership with
industry on commercially-focused projects oriented to market needs.
Phytola's multidisciplinary expertise and collaborative network provides
a unique, integrated platform for the development of new traits and
specialty oil products. For more information, visit www.phytola.ca.
About Genome Canada
Genome Canada is a federally-funded not-for-profit organization that
acts as a catalyst for developing and applying genomics and
genomic-based technologies across multiple sectors to create economic
and social benefits for Canadians. For more information, visit www.genomecanada.ca.
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 related to a new collaboration project for
soybeans. 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: our ability to identify and isolate desired soybean seed traits; the
company and its partners’ ability to develop commercial products
incorporating such traits and complete the regulatory review process for
such products; the company’s compliance with laws and regulations that
impact the company’s business, and changes to such laws and regulations;
the company’s future capital requirements and ability to satisfy its
capital needs; and the other risks set forth in the company's filings
with the Securities and Exchange Commission from time to time, including
the risks set forth in the Arcadia’s Registration Statement on Form S-1
(including the final prospectus dated May 14, 2015) and other filings.
These forward-looking statements speak only as of the date hereof, and
Arcadia. disclaims any obligation to update these forward-looking
statements, except as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150616005531/en/
Source: Arcadia Biosciences, Inc.
Arcadia Biosciences, Inc.
Jeff Bergau
jeff.bergau@arcadiabio.com
+1-312-217-0419
or
Phytola
Christopher
Schieman
schieman@ualberta.ca
+1-780-248-1223
