— Winter planting expands acres and builds supply for commercial launch —
DAVIS, Calif. – February 7, 2019 – Demonstrating its commitment to advancing its GoodWheat™ portfolio of novel, non-GM wheat ingredients with unique health benefits to commercialization, Arcadia Biosciences, Inc. (Nasdaq: RKDA), an agricultural food ingredient company, today announced additional progress in the development of its supply chain, led by Grant Aldridge, the company’s new Head of Commercial Development.
Since mid-2018, Arcadia has significantly expanded its grower base for unique GoodWheat varieties to provide adequate supply for its consumer and animal feed customers. To preserve the unique characteristics of GoodWheat, the company has developed a robust identity preservation system that ensures the wheat’s unique quality is maintained throughout the supply chain, from seed to food company. In addition, the company just completed counter-season planting of GoodWheat, which will increase seed inventory available for Arcadia’s grower partners. In 2019, the company plans to expand acres in the southern hemisphere which will expedite supply through a two-hemisphere production cycle and will increase access to key markets for the commercial adoption of GoodWheat.
All these activities are being driven by Aldridge, a crop production agriculture expert who brings more than 25 years of experience in agribusiness to Arcadia. Aldridge has served leadership roles in several major agriculture and biotechnology companies, executing new market models for high-value traits in corn, soybeans, melons and novel industrial crops. He has enjoyed a track record of success in every aspect of commercialization, from research and product development to commercial operations like sales, marketing and crop production management. Aldridge has a master’s degree in plant genetics and breeding from Purdue University.
“These supply chain advancements demonstrate our commitment to bringing our GoodWheat portfolio to market, enabling consumers to improve nutrition by eating foods they love,” said Raj Ketkar, president and CEO of Arcadia. “Grant is an excellent addition to our team, and he adds the level of expertise and proven experience that will help us successfully launch GoodWheat.”
“What has impressed me about Arcadia is the progress being made driving tangible innovation in wheat – a crop that has seen limited innovation over the past 75 years,” said Aldridge. “With the GoodWheat product portfolio, we will enhance value throughout the supply chain, allowing growers to capture more value on the farm, consumer packaged goods companies to differentiate their brands in the marketplace, and consumers to get the nutrients they need by eating foods they enjoy.”
Arcadia’s GoodWheat platform is a portfolio of novel non-GM wheat varieties including high fiber resistant starch, reduced gluten and others. These varieties have been specially bred for unique value using Arcadia’s non-GM TILLING platform and can be delivered as organic or conventional wheat. GoodWheat was developed to add value to the entire wheat supply chain, from seed to table, by enabling a wider range of healthy choices to meet evolving consumer demands. First sales of GoodWheat are expected in the next 12 months.
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.
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; Arcadia’s ability to develop, enforce and defend its intellectual property rights; 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.