Agronomics Limited Portfolio Company Update: Tropic Biosciences
11 November 2021 - 06:00PM
RNS Non-Regulatory
TIDMANIC
Agronomics Limited
11 November 2021
11 November 2021
Agronomics Limited
("Agronomics" or the "Company")
Portfolio Company Tropic Biosciences Obtains a Positive Response
From USDA-APHIS on Product Developed Using its GEiGS Technology
Agronomics, the leading listed company focused on the field of
cellular agriculture, is pleased to announce that portfolio company
Tropic Biosciences has received confirmation that its potato
product, developed using its proprietary Gene Editing Induced Gene
Silencing ("GEiGS") technology, is exempt from regulation by the
United States Department of Agriculture Animal & Plant
Inspection Service (USDA-APHIS"). This confirmation ensures that
its gene-edited potatoes, resistant to browning, will not face
regulatory barriers on its way to market, and is a promising
indicator for its other products such as coffee, rice and bananas.
Agronomics holds an equity ownership of 2.95% following
participation in Tropic's Series B round in March 2020.
The full announcement is set out below with no material changes
or adjustments:
Tropic Biosciences obtains positive response from USDA-APHIS on
regulatory status of a product developed using its GEiGS(R) (Gene
Editing Induced Gene Silencing) technology
Tropic Biosciences ("Tropic"), a pioneering
agricultural-biotechnology company dedicated to the development of
high-performance tropical crops, announced today that it has
received confirmation that potatoes with reduced browning,
developed by GEiGS(R) -mediated silencing of polyphenol oxidase-5
(Ppo5) transcripts, were determined to be exempted from regulation
by the USDA. Tropic made a submission to the USDA requesting
confirmation of regulatory status for this product in May 2021. The
USDA-APHIS response indicated that the plant lines do not meet the
definition of a regulated article under 7 CFR Part 340 regulations.
Tropic's submission along with the USDA-APHIS BRS response is
posted on the USDA's website .
"This is the first regulatory assessment of a product based on
our proprietary GEiGS(R) technology and the confirmation that this
product is not regulated by USDA is an important step in bringing
our crop products to market", said Gilad Gershon, CEO of Tropic
Biosciences.
Tropic Biosciences is using GEiGS(R) to develop valuable traits
in bananas, coffee and rice. As an
example, GEiGS(R) enables Tropic Biosciences to develop novel
banana varieties that are resistant to Panama Disease (TR4), a
devastating fungal disease that threatens global banana production.
Tropic Biosciences has also entered into licensing agreements with
multiple leading global agribusinesses enabling them to use the
platform to develop disease resistance, quality and welfare traits
across crop, livestock and aquaculture species.
About Tropic Biosciences
Tropic Biosciences is one of the leading agricultural
gene-editing companies globally, and focuses on the development and
commercialization of high-performing varieties of tropical crops,
namely coffee, bananas and rice. It employs over 110
industry-leading professionals and is headquartered at the renowned
Norwich Research Park.
About Agronomics
Agronomics is a leading listed alternative proteins company with
a focus on cellular agriculture and cultivated meat. The Company
has established a portfolio of 17 companies at the Seed to Series B
stage in this rapidly advancing sector. It seeks to secure minority
stakes in companies owning technologies with defensible
intellectual property that offer new ways of producing food and
materials with a focus on products historically derived from
animals. These technologies are driving a major disruption in
agriculture, offering solutions to improve sustainability, as well
as addressing human health, animal welfare and environmental
damage. This disruption will decouple supply chains from the
environment and animals, as well as being fundamental to feeding
the world's expanding population. A full list of Agronomics'
portfolio companies is available at https://agronomics.im/ .
For further information please contact:
Agronomics Beaumont Cenkos Peterhouse TB Cardew
Limited Cornish Limited Securities Capital
Plc Limited
The Company Nomad Joint Broker Joint Broker Public Relations
------------------ ------------------ --------------------- ------------------------
Richard Reed Roland Cornish Giles Balleny Lucy Williams Ed Orlebar
Denham Eke James Biddle Michael Johnson Charles Goodfellow Joe McGregor
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+44 (0) 20 7930
0777
+44 (0) 1624 +44 (0) 7738
639396 +44 (0) 207 +44 (0) 207 +44 (0) 207 724 630
info@agronomics.im 628 3396 397 8900 469 0936 agronomics@tbcardew.com
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