— Verdeca’s HB4® soybean trait to help growers overcome challenging climate conditions —
DAVIS, Calif. and ROSARIO, Argentina (August 8, 2018) – Arcadia Biosciences, Inc. (Nasdaq: RKDA) and Bioceres S.A., through their joint venture Verdeca, today announced the introduction of soybeans that deliver compelling yield increases under drought conditions. At this week’s APPRESID Congress, being held in Cordoba, Argentina, August 8-10, Verdeca is presenting the HB4 technology to producers. The event targets innovative soybean growers who will be invited to participate in future pre-commercial testing.
The introduction marks the first step in commercializing the HB4 trait, which is the result of multiple years of research and development, both in Argentina and the U.S. The trait is Verdeca’s first release from a pipeline of traits expected to benefit soybean producers and demonstrates the company’s ability to deliver on its commitment to bringing innovation to aid soybean producers through quality improvement or stress mitigation.
“HB4 technology will give growers a unique tool to help combat the challenges of managing climate variability,” said Federico Trucco, CEO of Bioceres. “Field trials conducted in the difficult drought conditions faced by Argentina’s farmers in 2018 further validated this belief.”
Soybeans are the world’s fourth largest crop, grown on more than 120 million hectares annually. Global population growth, combined with a growing middle class in countries like China and India, have resulted in increased demand for this important protein source. More than 50 million of the world’s soybean hectares are grown in Argentina and Brazil, a region that has experienced significant drought conditions in recent years.
“Positive results of our HB4 technology have been demonstrated in numerous field trials in major soybean production areas in South America and the U.S.,” said Raj Ketkar, president and CEO of Arcadia Biosciences. “The technology is currently being bred into elite soybean varieties by Verdeca’s seed company partners, and we are preparing for the commercial launch of HB4 in 2019, pending regulatory approval in China.”
Arcadia and Bioceres formed Verdeca in 2012 to deploy next-generation soybean traits in all key production regions, beginning in South America and North America, which together represent nearly 80 percent of the harvested soybean acres globally. Verdeca’s HB4 trait has already been approved in Argentina and by the U.S. Food & Drug Administration. Regulatory submissions are currently under consideration by the U.S. Department of Agriculture and in Brazil and China.
Bioceres is a fully integrated agricultural biotechnology company utilizing multiple technology platforms to develop and commercialize products that enhance crop productivity and expand feedstock applications. The company is owned by more than 250 of South America’s largest growers. Bioceres is a major shareholder of Rizobacter, INDEAR (Institute of Agricultural Biotechnology of Rosario), and Bioceres Semillas. For more information visit www.bioceres.com.ar.
About Arcadia Biosciences, Inc.
Arcadia Biosciences, Inc. (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 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.
Verdeca, a U.S.-based joint venture between Bioceres and Arcadia Biosciences, develops and deregulates soybean varieties with next-generation agricultural technologies. Working in partnership with South American growers, Verdeca aims to provide technologies that help increase crop productivity, making more efficient and sustainable use of land and water resources. For more information visit www.verdeca.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: Arcadia’s and its partners’ and affiliates’ ability to develop commercial products incorporating their traits, and complete the regulatory review process for such products; Arcadia’s compliance with laws and regulations that impact Arcadia’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 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.