DAVIS, Calif. & PARIS -- (BUSINESS WIRE) -- Arcadia Biosciences, Inc., and Genective S.A., a joint venture between Group LIMAGRAIN and Group KWS, today announced that they have signed an agreement that will allow Genective to develop new corn hybrids incorporating Arcadia’s Water Use Efficiency (WUE) technology. Under the terms of the agreement, Genective receives global rights to Arcadia’s WUE technology in corn, and Arcadia receives an upfront payment, milestone payments and participates in value sharing on sales of commercial products.
Corn is among the world’s most important crops, with more than 176 million hectares planted worldwide. While major gains have been made in corn productivity over the past 30 years, water availability remains a key determinant of crop yield. Arcadia’s WUE technology may enable corn to produce high yields using less water, reducing the negative impact of water stress and improving on-farm economics.
“Considering the key role that corn plays in the global supply of feed, food, and fuel, the application of WUE technology can have a positive impact on food security and farm income,” said Eric Rey, president and CEO of Arcadia. “Genective’s expertise, heritage, and access to key markets makes the company a perfect partner to get this important technology to the growers who need it.”
“The WUE technology has the potential to complement other water efficiency traits in Genective’s corn GM product development pipeline,” said Bruce Lee, CEO of Genective.
About Arcadia Biosciences, Inc.
Based in Davis, Calif., with additional facilities in Seattle, Wash. and Phoenix, Ariz., Arcadia Biosciences is an agricultural technology company focused on developing agricultural products that improve the environment and enhance human health. Arcadia’s agronomic traits, including Nitrogen Use Efficiency, Water Use Efficiency, Salt Tolerance, Heat Tolerance and Herbicide Tolerance, are all aimed at making agricultural production more economically efficient and environmentally sound. Arcadia’s health technologies and products create healthier ingredients and foods with lower production costs. For more information visit www.arcadiabio.com.
About Genective S.A.
GENECTIVE based in Paris, France is a joint venture between Group LIMAGRAIN and Group KWS and is developing innovative GM technology solutions in corn. GM traits in Genective’s corn development pipeline aimed at providing technology choices to farmers in addition to water use efficiency include insect resistance, herbicide tolerance and nutrient use efficiency. For more information visit www.genective.com.