Arcadia Biosciences, Inc. Acquires Anawah, Inc.
-- Company To Combine Use of Genetic Engineering and Advanced Plant Breeding Techniques To Improve Plants --
DAVIS, CA (June 16, 2005) – Arcadia Biosciences, an agricultural biotechnology company focused on products that benefit the environment and human health, today announced that it has acquired Seattle-based Anawah, Inc., a food and agricultural research company focused on the development of value-added whole foods. Financial terms of the deal were not disclosed.
Anawah utilizes proprietary TILLING® technology, an advanced selective breeding technology that enables the identification and exploitation of genetic variation within a plant's genome. Using this technology, Anawah research programs focus on the development of products that can provide consumers with foods that are more nutritious, better-tasting, and longer lasting than currently available foods. High-carotenoid and increased shelf-life tomatoes are examples of programs underway. Products developed based on this technology are not classified as genetically modified organisms (GMO).
"The acquisition of Anawah bolsters our product pipeline with high-value products that could be launched as early as 2008 and that fit with Arcadia's mission," said Eric Rey, president of Arcadia. "TILLING technology provides us with a proprietary non-GMO advanced breeding tool that is valuable on its own and is synergistic with our existing genetic engineering technologies. The combination of these technologies will lead to the creation of many new value-added plant products."
With the Anawah acquisition, Arcadia's portfolio now includes improved fruits, vegetables, whole grains, and soybeans that offer improved nutritional value, shelf-life, and processing efficiency. These technologies will be added to Arcadia's existing portfolio that includes nitrogen use efficiency, salt tolerance, and GLA Safflower.
"The Arcadia business and science staff have a wealth of experience and expertise in the development and commercialization of new agricultural and food products," said Ken Hunt, CEO of Anawah. "Anawah's products and technologies complement Arcadia's product portfolio well, and significant synergies exist in overall research and commercialization strategies." Going forward, Mr. Hunt will serve as a consultant to Arcadia for specified projects.
The combination of the two companies will create a total employee base of more than 50 people, most of whom are research staff. In addition to Arcadia's main facility in Davis, Calif., Anawah's research facility and staff in Seattle, Wash. will remain intact and will continue to focus on development and application of TILLING technology. The company expects to make additional hires in Seattle to support development of products using TILLING technology.
About Arcadia Biosciences, Inc.
Based in Davis, Calif., with additional facilities in Seattle, Wash. and Phoenix, Ariz., Arcadia Biosciences is an agricultural biotechnology company focused on the development of agricultural products that improve the environment and enhance human health. For more information visit www.arcadiabio.com.