– Company’s global commercialization plans for GoodWheat™ portfolio
of innovative wheat ingredients remain on track –
DAVIS, Calif.–(BUSINESS WIRE)– Arcadia
Biosciences, Inc. (Nasdaq: RKDA), an agricultural food ingredient
company, today announced that its lawsuit in the United States District
Court for the Southern District of New York against Arista Cereal
Technologies, Pty. Ltd. has ended based on a jurisdictional decision by
the court. The lawsuit sought to correct inventorship on key patents for
Arista’s high-amylose wheat.
“The vast majority of our GoodWheat™ portfolio as well as the overall
target market for our wheat, soy and other nutrition and ingredient
products is unaffected by our dispute with Arista. Our global
commercialization plans for those products remain on track, with first
sales expected this year,” said Raj Ketkar, president and CEO of
Arcadia. “We remain committed to defending our intellectual property,
however, and are still pursuing other avenues to protect our technology.”
Arcadia’s GoodWheat platform is a portfolio of novel non-GM wheat
varieties including high fiber resistant starch (RS), 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. For instance, Arcadia’s RS GoodWheat contains up to
94 percent amylose, the highest levels available, which has been proven
to deliver significant health benefits. These same wheat varieties
deliver total dietary fiber levels high enough to meet the US Food and
Drug Administration’s “Good Source” of fiber or “High in Fiber”
designations on consumer packaging.
In addition, Arcadia recently announced a major partnership with Ardent
Mills, North America’s leading flour-milling and ingredient company, to
develop and commercialize innovative wheat trait improvements. The first
project focuses on extending the shelf life and improving the taste of
whole wheat products for North American consumers, driving the increased
consumption of fiber.
“The global wheat flour market is forecasted to reach $200 billion by
2022, and we remain convinced that it can be served by many different
technical approaches,” said Ketkar. “We’re excited about the science
behind GoodWheat and about the partnerships with farmers and food
companies working with us to bring these innovations to tables around
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.
Source: Arcadia Biosciences, Inc.