Yield10 Bioscience Signs Research Agreement with J. R. Simplot to Evaluate New Traits to Produce High Yielding, Sustainable ...
October 23 2019 - 8:30AM
Yield10 Bioscience, Inc. (Nasdaq:YTEN) today announced that it has
signed a research agreement with Boise, Idaho-based J. R. Simplot
Company, to evaluate three novel yield traits in potato. Under the
agreement with Yield10, Simplot plans to conduct research with
these yield traits within its research and development program as a
strategy to improve crop performance and sustainability. In
addition to the three-year, non-exclusive research agreement,
Simplot was granted an option to negotiate an exclusive commercial
license agreement.
The novel crop yield traits included in the research agreement
are C3003, C3004 and C4001. In studies performed by Yield10 in
greenhouse or field tests, these traits have shown a range of
promising activities such as good agronomic performance, increased
photosynthesis, increased seed yield, and/or increased biomass
production. In 2019, Yield10 was granted a U.S. patent on
C3003.
“Traits like improved crop yield and performance that Yield10
has discovered are also a key objective for Simplot as we pursue
our goals of producing more sustainable crops,” said Susan
Collinge, Ph.D., Vice President of Simplot Plant Sciences. “It is
technology-driven innovations like the traits developed by Yield10
that may contribute to new solutions to meet growing global food
demand by boosting crop performance of our products aimed at the
consumer market.”
“We look forward to supporting the research team at Simplot as
we enable a new approach for improving yield performance in
potato,” said Kristi Snell, Chief Science Officer of Yield10
Bioscience. “Based on the activity we have reported in other
crops, we believe our traits have significant potential for
producing yield benefits in potato. Furthermore, the data generated
in the program will help us continue to characterize the activity
of our traits across a range of crop plants.”
“Working with major agriculture companies to test new traits
identified using our GRAIN platform in crops of commercial
significance is fundamental to our strategy of building paths to
market for our traits,” said Oliver Peoples, Ph.D., President and
Chief Executive Officer of Yield10 Bioscience. “While we are
focusing our internal resources primarily on developing performance
traits in canola and Camelina, we have successfully secured
research agreements to evaluate traits with industry leaders in
other crops, and we are very pleased to add Simplot, a world leader
in potato development.”
Simplot processes potatoes and a variety of fruits and
vegetables around the world. The company pursues a variety of
solutions to try and improve crop yields and identify more
sustainable agriculture methods.
Learn more about Innate Potatoes at www.innatepotatoes.com.
About Simplot
The J.R. Simplot Company, a privately held agribusiness firm
headquartered in Boise, Idaho, has an integrated portfolio that
includes phosphate mining, fertilizer manufacturing, farming,
ranching and cattle production, food processing, food brands, and
other enterprises related to agriculture. Simplot’s major
operations are located in the U.S., Canada, Mexico, Australia,
South America and China, with products marketed in more than 60
countries worldwide.
Learn more about Simplot at www.Simplot.com.
About Yield10
Bioscience
Yield10 Bioscience, Inc. is an agricultural bioscience company
which uses its “Trait Factory” to develop high value seed traits
for the agriculture and food industries to achieve step-change
improvements in crop yield to enhance global food security and
develop specialty crop products. Yield10 has an extensive track
record of innovation based around optimizing the flow of carbon in
living systems. The “Trait Factory” has two components: the “GRAIN”
computational modeling platform, which is used to identify specific
gene changes designed to improve crop performance, and the
deployment of those changes into crops using genome-editing or
traditional agricultural biotechnology approaches. The purpose of
the “Trait Factory” is to engineer precise alterations to gene
activity and the flow of carbon in plants to produce higher yields
with lower inputs of land, water or fertilizer. Yield10 is
advancing several yield traits it has developed in crops such as
canola, soybean, rice, wheat and corn. Yield10 is headquartered in
Woburn, MA and has an Oilseeds Center of Excellence in Saskatoon,
Canada.
For more information about the Company, please visit the website
and follow the Company on Twitter and LinkedIn.
(YTEN-G)
Safe Harbor for Forward-Looking
Statements
This press release contains forward-looking statements which are
made pursuant to the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The forward-looking
statements in this release do not constitute guarantees of future
performance. Investors are cautioned that statements in this press
release which are not strictly historical, including, without
limitation, that C3003, C3004 and C4001 may produce good agronomic
performance, increased photosynthesis, increased seed yield and
increased biomass production, that the traits developed by Yield10
may contribute to new solutions to meet growing global food demand
by boosting crop performance, that Yield10 traits have significant
potential for producing yield benefits in potato, and that the data
generated in the Simplot program will help Yield10 continue to
characterize the activity of its traits across a range of crop
plants, constitute forward-looking statements. Such forward-looking
statements are subject to a number of risks and uncertainties that
could cause actual results to differ materially from those
anticipated, including the risks and uncertainties detailed in
Yield10 Bioscience's filings with the Securities and Exchange
Commission. Yield10 assumes no obligation to update any
forward-looking information contained in this press release or with
respect to the matters described herein.
Contacts: Yield10
Bioscience:Lynne H. Brum, (617) 682-4693, LBrum@yield10bio.com
J.R. Simplot Company:Josh Jordan, (208) 780-7228,
josh.jordan@simplot.com
YTEN Investor Relations: Bret Shapiro, (561) 479-8566,
brets@coreir.comManaging Director, CORE IR
Media Inquiries: Eric Fischgrund, eric@fischtankpr.com FischTank
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