Cibus Enters into a Latin America Collaboration Agreement with Interoc to deliver rice growers an innovative rice weed control system
January 04 2024 - 7:30AM
Cibus, Inc. (Nasdaq: CBUS), a leading agricultural
technology company that develops and licenses gene edited plant
traits to seed companies for royalties
, today
announced that it has entered into a Collaboration Agreement with
Interoc, a company with more than 25 years in Latin America,
focused on the research and development of solutions for
agriculture. Starting with Cibus’ rice herbicide tolerance traits,
Cibus has agreed to partner with Interoc to provide traits for
Interoc’s elite rice seed genetics.
Interoc will market high performing rice hybrids
and varieties for the Latin American market developed with Cibus’
technology expertise. The program will encompass herbicide
tolerance traits to support existing needs in terms of weed and
resistance management that can contribute to improving yields in a
region whose productivity has been increasingly affected by
resistant weeds, including weedy rice.
"We are excited to leverage our rice technology
platform to support Interoc's development efforts to bring the next
generation of innovative products to farmers," said Martin Poveda,
Senior Director Rice Business and Industry Affairs at Cibus. "As we
tackle agriculture's greatest challenges, we're excited to partner
with leaders like Interoc and work together to solve some of the
most pressing challenges in rice production in Latin America
today.”
Rice is one of Cibus’ lead crops and the first
traits for rice are two separate herbicide tolerances – HT1 and
HT3. The performance of both herbicide tolerance traits has been
assessed by Cibus in multi-location field trials across multiple
seasons in the United States and will allow quick advancement of
the traits in Interoc rice germplasm. Interoc has a strong rice
seed presence in Latin American countries and owns an extensive
rice germplasm bank.
Interoc and Cibus intend to commercialize
herbicide tolerance in rice with a focus on the key markets in
Latin America.
Interoc is a company that, through a developed
and highly motivated team, provides innovative solutions for
agriculture and industry on the continent. Their clients derive
satisfaction and trust from the effectiveness of their service, as
well as the sustainability that they ensure for the environment and
the value for shareholders. Together with Interoc, Cibus believes
that they can help address some of the most pressing weed
management challenges of Latin America rice growers.
“One of Interoc´s sustainable development goals
is to improve productivity of farmers in Latin America with our
novel elite genetics combined with latest rice technologies. The
agreement with Cibus will bolster our strategy as it will allow us
to expand our trait portfolio for rice,” commented Fernando de la
Puente, Corporate Vice President of Interoc.
About CibusCibus is a leader in
gene edited productivity traits that address critical productivity
and sustainability challenges for farmers such as diseases and
pests which the United Nations estimates cost the global economy
approximately $300 billion annually. Cibus is not a seed company.
It is a technology company that uses gene editing to develop and
license traits to seed companies in exchange for royalties on seed
sales. Cibus’ focus is productivity traits for the major global
crops such as canola, rice, soybean, and wheat. Cibus is the
technology leader in high throughput gene editing technology that
enables Cibus to develop and commercialize plant traits at a
fraction of the time and cost of conventional breeding. Cibus has
developed a pipeline of five productivity traits including
important traits for pod shatter reduction, Sclerotinia resistance
and weed management. Three crops: canola, rice, and soybean; with
Cibus’ five traits: pod shatter reduction, herbicide tolerance
(HT)1, HT2, HT3, and Sclerotinia resistance make up the core of
Cibus’ three-crop, five-trait model, which is the central focus of
its business. Its initial traits for pod shatter reduction and weed
management are developed in collaboration with leading seed
companies. Its other pipeline traits including Sclerotinia
resistance are in advanced greenhouse and field trial stages.
Forward-Looking Statements
This press release contains "forward-looking
statements" within the meaning of the safe harbor provisions of the
U.S. Private Securities Litigation Reform Act of 1995. In some
cases, you can identify these statements by forward-looking words
such as "anticipates," "believes," "continue," "estimates,"
"expects," "intends," "may," "might," "plans," "predicts,"
"projects," "should," "targets," "will," or the negative of these
terms and other similar terminology. Forward-looking statements in
this press release include, but are not limited to, statements
regarding the anticipated closing of the offering and the expected
uses of the proceeds from the offering. Completion of the offering
is subject to numerous factors, many of which are beyond Cibus’
control, including, without limitation, market conditions, failure
of customary closing conditions and the risk factors and other
matters set forth in the prospectus supplement and accompanying
prospectus included in the registration statement and the documents
incorporated by reference therein. You are cautioned not to place
undue reliance on any forward-looking statements made by Cibus’
management, which are based only on information currently available
to it when, and speak only as of the date, such statement is made.
Cibus does not assume any obligation to publicly provide revisions
or updates to any forward-looking statements, whether as a result
of new information, future developments or otherwise, should
circumstances change, except as otherwise required by law.
Cibus Contacts:INVESTOR RELATIONSKaren
Troeberktroeber@cibus.com858-450-2636
Jeff Sonnek – ICRjeff.sonnek@icrinc.comMEDIA RELATIONSColin
Sanfordcolin@bioscribe.com203-918-4347
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