Davis, California
June 16, 2005
Arcadia
Biosciences, an agricultural biotechnology company focused
on products that benefit the environment and human health, today
announced that it has acquired Seattle-based Anawah, Inc., a
food and agricultural research company focused on the
development of value-added whole foods. Financial terms of the
deal were not disclosed.
Anawah utilizes proprietary TILLING(R) technology, an advanced
selective breeding technology that enables the identification
and exploitation of genetic variation within a plant's genome.
Using this technology, Anawah research programs focus on the
development of products that can provide consumers with foods
that are more nutritious, better-tasting, and longer lasting
than currently available foods. High-carotenoid and increased
shelf-life tomatoes are examples of programs underway. Products
developed based on this technology are not classified as
genetically modified organisms (GMO).
"The acquisition of Anawah bolsters our product pipeline with
high-value products that could be launched as early as 2008 and
that fit with Arcadia's mission," said Eric Rey, president of
Arcadia. "TILLING technology provides us with a proprietary
non-GMO advanced breeding tool that is valuable on its own and
is synergistic with our existing genetic engineering
technologies. The combination of these technologies will lead to
the creation of many new value-added plant products."
With the Anawah acquisition, Arcadia's portfolio now includes
improved fruits, vegetables, whole grains, and soybeans that
offer improved nutritional value, shelf-life, and processing
efficiency. These technologies will be added to Arcadia's
existing portfolio that includes nitrogen use efficiency, salt
tolerance, and GLA Safflower.
"The Arcadia business and science staff have a wealth of
experience and expertise in the development and
commercialization of new agricultural and food products," said
Ken Hunt, CEO of Anawah.
"Anawah's products and technologies complement
Arcadia's product portfolio well, and significant synergies
exist in overall research and commercialization strategies."
Going forward, Mr. Hunt will serve as a consultant to Arcadia
for specified projects.
The combination of the two companies will create
a total employee base of more than 50 people, most of whom are
research staff. In addition to Arcadia's main facility in Davis,
Calif., Anawah's research facility and staff in Seattle, Wash.
will remain intact and will continue to focus on development and
application of TILLING technology. The company expects to make
additional hires in Seattle to support development of products
using TILLING technology.
Based in Davis, Calif., Arcadia Biosciences is an
agricultural biotechnology company focused on the development of
profitable agricultural products that improve the environment
and enhance human health. |