— Experienced financial advisor and investment fund manager was an early investor in company’s key development technology —
DAVIS, Calif. (June 12, 2018) – Arcadia Biosciences, Inc. (Nasdaq: RKDA), an agricultural food ingredient company, announced today that Lilian Shackelford Murray, an investment fund manager, has joined its board of directors. Murray was elected at the company’s annual stockholders meeting and replaces Uday Garg of Mandala Capital. Amy Yoder, CEO of Anuvia Plant Nutrients, was also re-elected to the board at the meeting.
Murray has more than 33 years of financial and management experience as a financial advisor, investment banker and managing director in the biotech and healthcare industries. She is the founder and manager of Dovedale Investments, a money management firm investing in emerging market exchange traded funds. Murray is also a managing member of Saints Capital V, where she provides investment fund management services. She previously served as a managing director and senior healthcare banker at Prudential Volpe Technology Group and its predecessor, Volpe, Brown Whelan. Prior to Volpe, Murray was a managing director and co-head of healthcare investment banking for Wheat First Securities and a senior vice president at Dean Witter Reynolds. She received an MBA from Harvard Business School and a BS from the University of Virginia.
Murray served as an observer to the Arcadia board from March 2007 until May 2015. Her prior board experience also includes service as a director of eMedicine.com, Inc., Extended Care Information Network, Inc. and LifeMasters Supported SelfCare, Inc.
“Lilian was an early investor in the TILLING technology that underpins Arcadia’s non-GM health and nutrition portfolio,” said Kevin Comcowich, chair of Arcadia’s board of directors. “She has been a strong supporter of the company for many years, and her financial and investment experience will be a welcome addition to the board. I would also like to thank Uday Garg for his service and contributions to the board.”
“I have been impressed with the innovation and breadth of technologies at Arcadia,” said Murray. “These products have the potential to provide consumer health benefits and agricultural efficiency worldwide, and I look forward to working with the company to deliver value to growers, food manufacturers and consumers.”
About Arcadia Biosciences, Inc.
Arcadia Biosciences (Nasdaq: RKDA) develops and markets high-value food ingredients and nutritional oils that help meet consumer demand for a healthier diet. Arcadia’s GoodWheat™ branded ingredients deliver health benefits to consumers and enable consumer packaged goods companies to differentiate their brands in the marketplace. The company’s portfolio of agricultural traits are being developed to enable farmers around the world to be more productive and minimize the impact of agriculture on the environment. 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. 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 demand for the company’s products, both from commercial partners and consumers; the company’s and its partners’ ability to develop commercial products incorporating its 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, 2017 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.