— Gene Editing Technology Will Enable Rapid Development of Nutrition and Ag Productivity Traits —
DAVIS, Calif. (September 11, 2017) – Arcadia Biosciences, Inc. (Nasdaq: RKDA), an agricultural technology company, announced today that it has signed a global licensing agreement with the Broad Institute of MIT and Harvard for research use of the CRISPR-Cas9 genome-editing technology in agriculture. The technology will enable Arcadia to accelerate the research and development of its agricultural nutrition and productivity traits.
CRISPR-Cas9 works by making precisely-targeted modifications in a cell’s DNA, allowing scientists to rapidly enhance beneficial traits or remove undesired plant characteristics. Arcadia will initially focus on applying the technology to speed development of nutritional traits in wheat.
“CRISPR-Cas9 is a high-throughput, cost-effective development tool that is complementary to our ongoing TILLING and transgenic development platforms,” said Raj Ketkar, president and CEO of Arcadia. “We expect this technology will significantly improve the time-to-market for a number of our innovative traits addressing large-acre, high-value crops.”
The Broad Institute is a world leader in the development and sharing of CRISPR genome-editing technologies and holds several issued U.S. patents covering CRISPR-Cas technology. Under the agreement announced today, the Broad Institute grants Arcadia a worldwide non-exclusive research use license for applications of the CRISPR-Cas9 technology in core Arcadia crops. Additional terms of the agreement were not disclosed.
About Arcadia Biosciences, Inc. Based in Davis, Calif., 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. 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 products and the regulatory process 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’s and its partners’ and affiliates’ ability to identify and isolate desired traits; the company’s and its partners’ ability to develop commercial products incorporating those traits, 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 Annual Report on Form 10-K for the year ended December 31, 2016. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.