Verdeca Receives USDA Approval of HB4® Drought Tolerant Soybeans
August 08 2019 - 8:00PM
Business Wire
With USDA decision, HB4® event
achieves regulatory approvals for more than 80 percent of the
global soybean market
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/
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