— Healthy attribute developed through Arcadia’s in-house breeding platform —
— Expands protection of company’s GoodWheat™ portfolio of wheat trait improvements —
— Commercial launch of reduced gluten GoodWheat slated for fourth quarter —
DAVIS, Calif. (Sept. 23, 2019) – Arcadia Biosciences, Inc. (Nasdaq: RKDA), a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, today announced the U.S. Patent and Trademark Office has awarded the company a patent for reduced gluten grains. This unique attribute was developed through Arcadia’s in-house breeding platform, which brings novel food innovations to consumers. The patent is the 17th in Arcadia’s GoodWheat™ portfolio of non-genetically modified (non-GM) wheat varieties, which includes high-fiber resistant starch, extended shelf life and now reduced gluten.
“This patent reaffirms Arcadia’s position as a leader in crop innovation, particularly in optimizing crops for higher nutritional value,” said Randy Shultz, Ph.D., vice president of research and development at Arcadia Biosciences. “We continue to bring valuable and healthy innovation to wheat – one of the most widely consumed crops in the world – through our GoodWheat portfolio.”
Arcadia’s reduced gluten wheat contains 75 percent less allergenic gluten content than traditional wheat, while also delivering improved protein quality and increased levels of essential amino acids such as lysine and histidine. Foods made with Arcadia’s reduced gluten wheat flour offer the same baking quality, taste and texture as traditional wheat. The company plans to offer a retail version to consumers later this year, in what will be the company’s first-ever direct-to-consumer product offering.
“This is really an exciting time for Arcadia’s GoodWheat portfolio,” added Sarah Reiter, chief commercial officer at Arcadia. “Our dedicated investments and proprietary scientific research into wheat are finally coming to fruition through commercialization of our high fiber, extended shelf life and reduced gluten wheat flour ingredients. Our newest offering caters to a growing number of consumers looking to reduce their gluten intake, either as a result of a wheat sensitivity or simply because they feel or perform better when following a diet with lower levels of gluten.”
According to market research conducted by The Connell Group on behalf of Arcadia in 2018, 26 percent of consumers reported they were actively seeking to reduce their gluten intake or avoid it altogether. Additionally, according to the “Global Gluten Free Products Market” report, the global gluten-free products market is projected to reach $9.14 billion in value by 2023.
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 agricultural traits are being developed to enable farmers around the world to be more productive and minimize the impact of agriculture on the environment. Arcadia Specialty Genomics is a business unit within Arcadia Biosciences dedicated to the optimization and standardization of cannabis plant content, quality, resiliency and yield. 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 regarding our planned commercial launch of reduced gluten products in the fourth quarter of 2019 and our estimate of the size of the gluten-free food market in 2020. 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 and sell 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 ability to capture revenue in 2019 and beyond; the growth of the global flour market; 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, 2018 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.
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