DAVIS, Calif. (July 29, 2015) – Arcadia Biosciences, Inc. (NASDAQ: RKDA), an agricultural technology company, announced that the European Patent Office has granted a key patent for its Water Use Efficiency (WUE) trait. The patent covers the use of Arcadia’s WUE trait to develop drought resistant and water efficient plants, which will help growers produce higher yields per unit of available water. The platform technology was invented by Drs. Shimon and Amira Gepstein at the Technion-Israel Institute of Technology and Dr. Eduardo Blumwald at the University of California, Davis, and is licensed exclusively to Arcadia.
In more than four years of field trials, Arcadia’s WUE trait has demonstrated improved crop yields under conditions of episodic water stress and has been shown to help crops recover from severe drought conditions. Arcadia and its seed company partners have incorporated the WUE trait into major global crops including wheat, rice, corn, cotton, sugarcane, sugarbeets, tree crops and vegetables.
“The irregular availability of water is a growing global challenge for agriculture, particularly in those regions where food security is an issue,” said Eric Rey, president and CEO of Arcadia Biosciences. “Our WUE trait enables growers to increase yields and improve farming efficiencies while reducing agriculture’s demand for fresh water in irrigated as well as arid regions.”
The issuance of this European patent further expands Arcadia’s WUE patent portfolio, which includes 31 WUE technology patents already granted in key geographies globally. Additional patent applications are pending in multiple jurisdictions. Arcadia’s patent portfolio includes 128 patents owned or exclusively controlled globally in all major crops, with 43 patent applications pending.
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 WUE trait and the regulatory process for such trait. 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 commercial products incorporating its traits, including the WUE trait, 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 company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2015. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.