Approval of HB4® Drought and Herbicide Tolerant Soybeans in Paraguay
13 November 2019 - 12:00AM
Business Wire
-- Novel trait stack expected to help
growers facing climate and production challenges --
-- HB4 trait now has regulatory approval in
top four global suppliers of soybean, accounting for more than 80
percent of total production --
Verdeca, a joint venture between Bioceres Crop Solutions Corp.
(NYSE American: BIOX) and Arcadia Biosciences, Inc. (Nasdaq: RKDA),
announced today it has successfully completed the regulatory review
process and received approval for its HB4® drought and herbicide
tolerant soybeans from the Paraguayan Minister of Agriculture,
through the National Commission for Agricultural and Forestry
Biosafety.
The HB4 stack is Verdeca’s newest product release from its
pipeline of traits developed to benefit soybean producers through
quality improvement, stress mitigation and management
practices.
“HB4 is a novel soybean trait that enhances the traditional
herbicide tolerance package to provide yield stability across
diverse environments,” said Martin Mariani Ventura, general manager
of Verdeca. “Approval of this technology in Paraguay is another
significant step for the successful commercialization of HB4
technology in the South American soybean market.”
With this approval, the HB4 trait now has regulatory approval in
more than 80 percent of the global soybean market. The HB4 trait
has already been approved in the U.S., Argentina and Brazil, with
regulatory submissions currently under consideration by China,
among other relevant production and consumption territories. Import
approval from China is needed for commercial launch in Argentina,
and is now expected in late 2020.
More than 3.5 million of the world’s soybean hectares are grown
in Paraguay.
“This approval in Paraguay is an important step, which not only
adds over three million hectares from a market opportunity
viewpoint, but also helps us leverage breeding efforts for southern
Brazil, where growing conditions are generally similar,” said
Federico Trucco, CEO of Bioceres Crop Solutions.
“Trials in Argentina and Brazil have shown a positive impact of
the HB4 trait stack on soybean yields,” said Matt Plavan, president
and CEO of Arcadia Biosciences. “We’re seeing remarkable excitement
in the market from potential seed distribution partners and farmers
wanting to grow our drought tolerant and herbicide resistant
crop.”
Bioceres Crop Solutions and Arcadia Biosciences formed Verdeca
in 2012 to deploy next-generation soybean traits in all key
production regions, beginning in South America and North
America.
About Bioceres Crop Solutions
Bioceres Crop Solutions Corp. (NYSE American: BIOX) is a fully
integrated provider of crop productivity technologies designed to
enable the transition of agriculture towards carbon neutrality. To
do this, Bioceres’ solutions create economic incentives for farmers
and other stakeholders to adopt environmentally friendlier
production practices. The Company has a unique biotech platform
with high-impact, patented technologies for seeds and microbial
ag-inputs, as well as next generation crop nutrition and protection
solutions. Through its HB4® program, the Company is bringing
digital solutions to support growers’ decisions and provide
end-to-end traceability for production outputs. For more
information, visit https://investors.biocerescrops.com.
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. 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/.
About Verdeca
Verdeca, a U.S.-based joint venture between Bioceres Crop
Solutions 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, Bioceres’, Verdeca’s and their partners’
and affiliates’ ability to develop commercial products
incorporating their traits, and complete the regulatory review
process for such products, including obtaining approval from China;
Arcadia’s and Bioceres’ compliance with laws and regulations that
impact Verdeca’s business, and changes to such laws and
regulations; Verdeca’s future capital requirements and ability to
satisfy its capital needs; and the other risks set forth in
Arcadia’s and Bioceres’ 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, Bioceres’ Annual Report on Form 20-F for the year ended
June 30, 2019, and other filings. These forward-looking statements
speak only as of the date hereof, and Arcadia Biosciences, Inc. and
Bioceres Crop Solutions Corp. disclaim any obligation to update
these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20191112005579/en/
Bioceres Crop Solutions Corp. Maximo Goya +54-341-4861100
maximo.goya@biocerescrops.com Arcadia Biosciences Sara
Geisner +1-314-401-6846 sara@trailblaze.co
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