– Water Efficiency Technology To Increase Productivity And Decrease Fresh Water Requirements for Wheat Farming –
DAVIS, Calif. USA and PARIS, France (February 9, 2011) – Arcadia Biosciences, Inc., an agricultural technology company focused on developing technologies and products that benefit the environment and human health, today announced that it has signed an exclusive global licensing deal with Vilmorin, the world’s leading wheat seed company, and Limagrain Cereal Seeds, LLC, a joint venture between Vilmorin and Arcadia, to use Arcadia’s Water Efficiency (WE) technology in wheat.
Under terms of the agreement, Vilmorin receives exclusive rights outside of North America to the use of Arcadia’s WE technology in wheat, and Limagrain Cereal Seeds receives exclusive rights within North America. Arcadia receives an upfront payment, milestone payments and a share of commercial sales revenue.
Arcadia’s WE technology enables farmers to produce high yields under reduced water conditions. This technology can make farming more efficient and reserve more fresh water resources for human consumption. By combining WE with the company’s NUE technology, which enables farmers to produce high yields using less nitrogen fertilizer, wheat growers can have increased productivity, more stable yields, lower operating costs and a significantly lower impact on the environment.
“With a rapidly expanding population and variable climatic conditions, the pressure on fresh water resources is becoming an increasing problem. Crop yields and food security depend on adequate soil moisture, and the development of water efficient wheat can significantly reduce yield sensitivity to water availability,” said Eric Rey, president and CEO of Arcadia. “Vilmorin’s leadership in global wheat and the rapid development of Limagrain Cereal Seeds in North America make them ideal partners to develop and commercialize Arcadia’s WE technology in wheat.”
“This exclusive and global access to Arcadia’s innovative water efficiency technology is another major step in Vilmorin’s development plans in wheat. Together with our access to Arcadia’s nitrogen efficiency technology, this water efficiency gene technology opens new long term perspectives towards improving the agricultural and environmental performance of the most cultivated cereal crop in the world,” said Emmanuel Rougier, COO of Vilmorin.
About Arcadia Biosciences, Inc.
Based in Davis, Calif., with additional facilities in Seattle, Wash. and Phoenix, Ariz., Arcadia Biosciences is an agricultural technology company focused on the development of agricultural products that improve the environment and enhance human health. For more information visit www.arcadiabio.com.
Vilmorin is the fourth largest seed company in the world, and creates vegetable and field crops with high added value, thus helping to meet food needs more efficiently. Based on a responsible vision of its development, Vilmorin’s strategy is a successful combination of its research capacity and constant international growth that strengthens its position as a world player. This ambition is founded on sharing knowledge, quality of life and respect for the needs of mankind, all expressed through its philosophy “Cultivating the taste of life.”
Listed on NYSE Euronext Paris (compartment A), Vilmorin’s quotation is included in the Next 150, CAC Mid 100 and SBF 250 indices, and is eligible for SRD (Deferred Settlement Order). For more information visit www.vilmorin.info.