Combined Expertise Accelerates Bringing New Trait Stacks to Market
DAVIS, Calif. and INDIANAPOLIS (Dec. 2, 2015) – Arcadia Biosciences, Inc. (NASDAQ: RKDA) and Dow AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical Company (NYSE: DOW), announce a strategic collaboration to develop and commercialize new breakthrough yield traits and trait stacks in corn. The collaboration leverages Arcadia’s leading platform of abiotic stress traits with Dow AgroSciences’ enabling technology platforms, input traits, regulatory capabilities and commercial channels.
Under the collaboration, the companies will jointly develop and commercialize agronomic yield traits, such as nutrient efficiency and water use efficiency, including several traits which have already completed advanced field trials in corn conducted by Dow AgroSciences. These traits would then be combined with Dow AgroSciences’ input traits to create highly competitive trait stacks that maximize farmer revenue and efficiency.
The collaboration will also utilize Dow AgroSciences’ EXZACT™ Precision Technology Platform to enhance and accelerate the development of trait stacks. Dow AgroSciences has developed the EXZACT™ Precision Technology Platform under an exclusive license and collaboration agreement in plants with Sangamo BioSciences, Inc.
Certain development costs will be co-funded under the collaboration agreement, and the commercial value of resulting traits in corn will be shared by Arcadia and Dow AgroSciences.
“This collaboration reflects the unique nature of Arcadia’s business model, expanding our access to new technologies in new markets with an established leader in agriculture. Dow AgroSciences is one of the most respected names in our industry, with a strong position in corn input traits,” said Eric Rey, president and CEO of Arcadia Biosciences.
“Developing crops with enhanced agronomic performance is technically difficult, making relationships with companies like Arcadia important as we rise to the challenge and advance technology that will help meet the needs of the future,” said Daniel R. Kittle, Ph.D., vice president, Research and Development, Dow AgroSciences.
“Dow’s experience in the corn market, coupled with its rich pipeline of insect resistance and herbicide tolerant traits, are a perfect complement to Arcadia’s agronomic yield and stress tolerant traits,” Rey added. “Together, we can accelerate the development of robust trait stacks that deliver significant added value to growers.”
Specific financial details of the collaboration were not disclosed.
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 growers 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 Dow AgroSciences
Dow AgroSciences discovers, develops, and brings to market crop protection and plant biotechnology solutions for the growing world. Based in Indianapolis, Indiana, USA, Dow AgroSciences is a wholly owned subsidiary of The Dow Chemical Company and had annual global sales of $7.3 billion in 2014. Learn more at www.dowagro.com. Follow Dow AgroSciences on Facebook, Twitter, LinkedIn, and Google+, or subscribe to our News Release RSS Feed.
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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 Arcadia’s strategic partnership with Dow AgroSciences to develop and commercialize corn traits. 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: Arcadia’s and its partners’ and affiliates’ ability to develop commercial products incorporating its traits, including agronomic yield traits in corn, and complete the regulatory review process for such products; Arcadia’s compliance with laws and regulations that impact the company’s business, and changes to such laws and regulations; Arcadia’s future capital requirements and ability to satisfy its capital needs; and the other risks set forth in Arcadia’s filings with the Securities and Exchange Commission from time to time, including the risks set forth in Arcadia’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 and other filings. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.