DAVIS, Calif. (June 23, 2015) – Arcadia Biosciences, Inc. (NASDAQ: RKDA), an agricultural technology company, announced today that the US Food and Drug Administration (FDA) has approved Arcadia’s application to amend relevant regulations to permit the use of seed meal from the company’s high gamma-linolenic acid (GLA) safflower seed in animal feed. The FDA concluded that the data provided by Arcadia establishes the safety and utility of this safflower meal for use in cattle and poultry feeds.
Arcadia’s GLA safflower seed is processed to produce nutritional oils with more than 40 percent GLA. These oils are marketed by Arcadia under the SONOVA® brand and are used in nutritional supplement products for humans. GLA has multiple clinically-demonstrated nutritional and medical benefits, including anti-inflammation, improved skin condition and healthy weight management.
Seed meals are the ground residues obtained after processing seeds to extract their oil and are common ingredients in livestock feed. This approval provides an additional market for by-products from SONOVA GLA safflower oil production.
“The FDA’s approval of Arcadia’s safflower meal in animal feed opens up an entirely new market for us and improves the overall production economics of GLA safflower oil,” said Eric Rey, president and CEO of Arcadia Biosciences. “This approval, in addition to the recently announced Argentinian approval for Stress-Tolerant Soybeans and completion of the FDA Early Food Safety Evaluation of our Nitrogen Use Efficiency trait, demonstrates Arcadia’s strong regulatory capabilities and commitment toward creating the greatest possible value for our entire trait portfolio.”
With this most recent FDA approval, Arcadia will immediately begin marketing its safflower meal to animal feed manufacturers. The company has been marketing GLA safflower oil under its SONOVA brand since 2010.
About Arcadia Biosciences, Inc.
Based in Davis, Calif., with additional facilities in Seattle, Wash. and Phoenix, Ariz., Arcadia Biosciences (NASDAQ: RKDA) 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.
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 relating to the company’s GLA safflower oil and meal products and the regulatory processes for such products. 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: the company and its partners’ ability to develop and market commercial products incorporating GLA safflower meal; 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 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.