With USDA decision, HB4® event achieves regulatory approvals for more than 80 percent of the global soybean market
ROSARIO, Argentina–(BUSINESS WIRE)–Bioceres Crop Solutions Corp. (NYSE American: BIOX), announced today that Verdeca, a joint venture between BCS Holding Inc., a wholly owned subsidiary of Bioceres Crop Solutions Corp. (the “Company”) and Arcadia Biosciences, Inc. (Nasdaq: RKDA), has successfully completed the regulatory review process and received approval from the U.S. Department of Agriculture (USDA) for its HB4® drought tolerant soybeans, which will allow for commercialization in the U.S. market. The approval comes two years after the U.S. Food and Drug Administration’s (FDA’s) approval of Verdeca’s HB4 trait in 2017.
More than 30 million of the world’s soybean hectares are grown in the United States. With USDA approval, the HB4 trait now has regulatory approval in more than 80 percent of the global soybean market. The HB4 trait has already been approved in Argentina and Brazil, with regulatory submissions currently under consideration by China, Paraguay, Bolivia and Uruguay. Import approval from China is needed for commercial launch in Argentina, and is now expected in 2020.
“This approval in the U.S. is an important step for Verdeca. The HB4 trait was recently approved by Brazil as well, and we now expect approval in China in 2020 to launch our commercial efforts in Argentina,” said Federico Trucco, CEO of Bioceres Crop Solutions.
About Bioceres Crop Solutions
Bioceres Crop Solutions Corp. (NYSE American: BIOX) is a fully-integrated provider of crop productivity solutions, including seeds, seed traits, seed treatments, biologicals, high-value adjuvants and fertilizers. We have developed a multi-discipline and multi-product platform capable of providing solutions throughout the entire crop cycle, from pre-planting to transportation and storage. Our platform is designed to cost-effectively bring high-value technologies to market through an open-architecture approach. For more information visit https://biocerescrops.com/
Note Regarding Forward-Looking Statements
This communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include estimated financial information. Such forward-looking statements are based on management’s reasonable current assumptions, expectations, plans and forecasts regarding the Company’s current or future results and future business and economic conditions more generally. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, levels of activity, performance or achievement of the Company to be materially different from any future results expressed or implied by such forward-looking statements, and there can be no assurance that actual results will not differ materially from management’s expectations. Therefore, you should not rely on any of these forward-looking statements. All forward-looking statements contained in this release are qualified in their entirety by this cautionary statement. Forward-looking statements speak only as of the date they are or were made, and the Company does not intend to update or otherwise revise the forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as required by law.
Bioceres Crop Solutions Corp