Arcadia Biosciences Announces End to Lawsuit Against Arista Cereal Technologies in New York
January 14 2019 - 3:00AM
Business Wire
– Company’s global commercialization plans
for GoodWheat™ portfolio of innovative wheat ingredients
remain on track –
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 the world.”
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190114005233/en/
Arcadia BiosciencesJeff
Bergau+1-312-217-0419jeff.bergau@arcadiabio.com
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