Davis, California and Indianapolis, Indiana, USA
December 2, 2015
Arcadia Biosciences, Inc. (NASDAQ: RKDA) and Dow AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical Company (NYSE: DOW), announce a strategic collaboration to develop and commercialize new breakthrough yield traits and trait stacks in corn. The collaboration leverages Arcadia’s leading platform of abiotic stress traits with Dow AgroSciences’ enabling technology platforms, input traits, regulatory capabilities and commercial channels.
Under the collaboration, the companies will jointly develop and commercialize agronomic yield traits, such as nutrient efficiency and water use efficiency, including several traits which have already completed advanced field trials in corn conducted by Dow AgroSciences. These traits would then be combined with Dow AgroSciences’ input traits to create highly competitive trait stacks that maximize farmer revenue and efficiency.
The collaboration will also utilize Dow AgroSciences’ EXZACT™ Precision Technology Platform to enhance and accelerate the development of trait stacks. Dow AgroSciences has developed the EXZACT™ Precision Technology Platform under an exclusive license and collaboration agreement in plants with Sangamo BioSciences, Inc.
Certain development costs will be co-funded under the collaboration agreement, and the commercial value of resulting traits in corn will be shared by Arcadia and Dow AgroSciences.
“This collaboration reflects the unique nature of Arcadia’s business model, expanding our access to new technologies in new markets with an established leader in agriculture. Dow AgroSciences is one of the most respected names in our industry, with a strong position in corn input traits,” said Eric Rey, president and CEO, Arcadia Biosciences.
“Developing crops with enhanced agronomic performance is technically difficult, making relationships with companies like Arcadia important as we rise to the challenge and advance technology that will help meet the needs of the future,” said Daniel R. Kittle, Ph.D., vice president, Research and Development, Dow AgroSciences.
“Dow’s experience in the corn market, coupled with its rich pipeline of insect resistance and herbicide tolerant traits, are a perfect complement to Arcadia’s agronomic yield and stress tolerant traits,” Rey added. “Together, we can accelerate the development of robust trait stacks that deliver significant added value to growers.”
Specific financial details of the collaboration were not disclosed.
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