Arcadia Biosciences’ Water Use Efficiency Trait Completes US Food and Drug Administration Early Food Safety Evaluation
19 July 2017 - 10:00PM
Business Wire
-- FDA Accepts Conclusion That Trait Protein
Is Safe for Humans and Animals --
Arcadia Biosciences, Inc. (Nasdaq: RKDA), an agricultural
technology company that develops and commercializes plant traits
and products that improve farm economics and benefit the
environment and human health, announced that the U.S. Food and Drug
Administration (FDA) has accepted an Early Food Safety Evaluation
(EFSE) for the company’s water use efficiency (WUE) trait. The EFSE
is now applicable to all plant species that feature this trait.
The EFSE concluded that the functional protein for the WUE
trait, isopentenyl transferase (IPT), is safe for humans and
animals and would not raise food safety concerns if present in the
food supply. This approval is an assurance of safety for WUE crops
currently under development and being tested in the field and will
expedite the regulatory approvals for this trait. Greenhouse and
field trials of the WUE trait have been completed in agronomic
crops such as rice, wheat, cotton, peanuts and alfalfa, and Arcadia
is currently working with collaborators in rice, potato, sugarcane,
cotton and multiple tree species.
The irregular availability of suitable water is a leading cause
of reduced crop yield globally. Harvest loss due to drought in the
United States, as reported to the USDA Risk Management Agency,
averaged $4.1 billion per year from 2012 through 2016. Arcadia’s
WUE trait was developed to help farmers withstand the varying
environmental effects of climate change while expanding the range
of usable acreage for crop production. In multiple years of field
trials, Arcadia’s WUE trait has demonstrated improved crop yields
under conditions of episodic water stress and has been shown to
help crops recover from severe drought conditions.
“The FDA’s completion of its evaluation of Arcadia’s WUE trait
allows us to expedite the development of our drought tolerance
portfolio,” said Raj Ketkar, president and CEO of Arcadia
Biosciences. “This approval reflects Arcadia’s strong regulatory
capabilities and our commitment to helping growers reduce the
negative impact of water stress and improve on-farm economics.”
The African Agricultural Technology Foundation (AATF) supported
the EFSE study through funds from USAID’s “Feed the Future”
initiative. The data provided in support of the EFSE are consistent
with international regulatory requirements for genetically modified
crops and will provide Arcadia and its global partners with the
basis for future regulatory submittals.
Arcadia’s WUE trait technology was jointly discovered by
researchers at the University of California, Davis and
Technion—Israel Institute of Technology. Arcadia holds an
exclusive, global license to the technology, with sublicense
rights, for use in all crops.
About Arcadia Biosciences, Inc.
Based in Davis, Calif., Arcadia Biosciences (Nasdaq: RKDA)
develops agricultural products that create added value for farmers
while benefitting the environment and enhancing human health.
Arcadia’s agronomic performance traits, including Nitrogen Use
Efficiency, Water Use Efficiency, Salinity Tolerance, Heat
Tolerance and Herbicide Tolerance, are all aimed at making
agricultural production more economically efficient and
environmentally sound. Arcadia’s nutrition traits and products are
aimed at creating healthier ingredients and whole foods with lower
production costs. 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 relating to Arcadia’s WUE trait and the
regulatory process for such trait. 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’ ability to develop commercial products incorporating its
traits, including the WUE trait, and complete the regulatory review
process for such products; Arcadia’s compliance with laws and
regulations that impact the company’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, 2016 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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Arcadia Biosciences, Inc.Jeff
Bergaujeff.bergau@arcadiabio.com+1-312-217-0419
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