Cibus, Inc. (NASDAQ: CBUS), a leading agricultural technology
company that develops and licenses plant traits to seed companies,
today announced that the Company is moving forward in the next step
of commercialization of its developed traits.
Rice – HT1 & HT3 traits – First transfer of customer
seeds complete2023 field trial results have confirmed that
rice herbicide tolerance (HT) traits, known as HT1 and HT3, met or
exceeded performance expectations when evaluated with proposed
commercial herbicide application rates. This important step in
commercial development has led to the first transfers of customer
seeds containing the HT1 and HT3 traits. Additional transfers of
both HT traits to seed developers are in progress and this will
enable a broad offering of rice hybrids and varieties in the US and
international markets in the coming years. Cibus expects to have
field scale demonstrations of the HT rice traits in the US
Mid-South in 2024 and expand to other geographies in
2025.
“The field results of both HT1 and HT3 rice traits continue to
impress, and we’re excited to continue our work with seed
developers, University extension workers, and rice growers around
the globe, as we get one step closer to product launch,” said Dr.
Jim Radtke, Senior Vice President, Product Development for
Cibus.
“This is an exciting development for both Cibus and the rice
industry,” added Norm Sissons, Senior Vice President, Seed &
Traits. “Having not one, but two new HT rice traits coming to
market soon will open up new options for weed control for rice
growers and demonstrates Cibus’ commitment to rice
innovation.”
Canola – Pod Shatter Reduction trait – Carrying
commercial momentum into 2024Cibus also reported that its
canola Pod Shatter Reduction (PSR) trait in seed developer genetics
performed well and on par with the best available in the industry.
Concurrent with the positive field trial results, seed developer
lines containing the PSR trait were transferred to multiple
companies in 2023 and further transfers are planned in 2024. This
important development continues to enable production and testing of
seed developer PSR hybrids in 2024, leading to first hybrid sales
as early as 2025. Meanwhile, Cibus expects the first field results
of its PSR trait in WOSR in the United Kingdom later this
year.
Industry leading PSR traits are still not broadly available in
the canola/WOSR markets despite years of industry research. Cibus
intends to change this by broadly licensing its PSR trait to
canola/WOSR seed developers globally, and already has 10 seed
developer’s genetics at various stages of gene editing.
"It’s exciting to be on the verge of launching the first gene
edited canola trait in North America" said Denise Schmidt, Senior
Director, Canola Business & Industry Affairs of Cibus. “Canola
growers will have greater flexibility for managing their production
and the Cibus Powered™ PSR trait in the seed brand they
prefer.”
About the Cibus
RTDS®-based High
Throughput Breeding SystemA key element of Cibus’
technology breakthrough is its High Throughput Breeding Process
(referred to as the Trait Machine™ System). The Trait Machine
process is a crop specific application of Cibus’ patented Rapid
Trait Development System™ (RTDS®). The proprietary
technologies in RTDS integrate crop specific cell
biology platforms with a series of gene editing technologies to
enable a system of end-to-end crop specific precision breeding. It
is the core technology platform for Cibus’ Trait Machine: the first
standardized end-to-end semi-automated crop specific gene editing
system that directly edits a seed company’s elite germplasm. Each
Trait Machine process requires a crop specific cell biology
platform that enables Cibus to edit a single cell from a customers’
elite germplasm and grow that edited cell into a plant with the
Cibus edits. Cibus has Trait Machine platforms developed for canola
and rice and has already begun transferring their elite germplasm
with Cibus edits back to customers.
The traits from Cibus’ RTDS-based High Throughput Breeding
System are indistinguishable from traits developed using
conventional breeding or from nature. RTDS does not use
any foreign DNA or transgenes. Under the European Commission
current proposals, it is expected that products from
Cibus’ RTDS gene editing platform such as its pod shatter
reduction trait and Sclerotinia resistance traits for
Canola and Winter Oilseed Rape would be considered
‘Conventional-like'.
Cibus believes that RTDS and the Trait Machine
process represent the technological breakthrough in plant breeding
that is the ultimate promise of plant gene editing: “High
Throughput Gene Editing Systems operating as an extension of seed
company breeding programs.”
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 a
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. Using its
Trait Machine Process, Cibus has developed a pipeline of five
productivity traits including important traits for pod shatter
reduction, Sclerotinia resistance and weed management. Its initial
traits for pod shatter reduction and weed management are developed
in collaborations 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
applicable securities laws, including The Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of present or historical fact included herein, including
statements regarding Cibus’ operational and financial performance,
Cibus’ strategy, future operations, prospects and plans, including
the anticipated regulatory environment are forward-looking
statements. Forward-looking statements may be identified by words
such as “anticipate,” “believe,” “intend,” “expect,” “plan,”
“scheduled,” “could,” “would” and “will,” or the negative of these
and similar expressions.
These forward-looking statements are based on
the current expectations and assumptions of Cibus’ management about
future events, which are based on currently available information.
These forward-looking statements are subject to numerous risks and
uncertainties, many of which are difficult to predict and beyond
the control of Cibus. Cibus’ actual results, level of activity,
performance, or achievements could be materially different than
those expressed, implied, or anticipated by forward-looking
statements due to a variety of factors, including, but not limited
to: changes in expected or existing competition; challenges to
Cibus’ intellectual property protection and unexpected costs
associated with defending intellectual property rights; increased
or unanticipated time and resources required for Cibus’ platform or
trait product development efforts; Cibus’ reliance on third parties
in connection with its development activities; challenges
associated with Cibus’ ability to effectively license its
productivity traits and sustainable ingredient products; the risk
that farmers do not recognize the value in germplasm containing
Cibus’ traits or that farmers and processors fail to work
effectively with crops containing Cibus’ traits; challenges that
arise in respect of Cibus’ production of high-quality plants and
seeds cost effectively on a large scale; Cibus’ need for additional
funding to finance its activities and challenges in obtaining
additional capital on acceptable terms, or at all; Cibus’
dependence on distributions from Cibus Global, LLC to pay taxes and
cover its corporate and overhead expenses; regulatory developments
that disfavor or impose significant burdens on gene-editing
processes or products; Cibus’ ability to achieve commercial
success; commodity prices and other market risks facing the
agricultural sector; technological developments that could render
Cibus’ technologies obsolete; changes in macroeconomic and market
conditions, including inflation, supply chain constraints, and
rising interest rates; dislocations in the capital markets and
challenges in accessing liquidity and the impact of such liquidity
challenges on Cibus’ ability to execute on its business plan; the
Company's assessment of the period of time through which its
financial resources will be adequate to support operations; and
other important factors discussed in “Risk Factors of Cibus, Inc.”
filed as Exhibit 99.3 with Cibus’ Current Report on Form 8-K, which
was filed with the Securities and Exchange Commission (the “SEC”)
on June 1, 2023, as updated by the supplemental risk factors
included in the Company's Current Reports on Form 8-K filed on
October 18, 2023 and December 12, 2023, each as may be updated by
any additional “Risk Factors” identified in Cibus’ subsequent
reports on Forms 10-Q and 8-K filed with the SEC. Should one or
more of these risks or uncertainties occur, or should underlying
assumptions prove incorrect, actual results and plans could differ
materially from those expressed in any forward-looking statements.
Cibus’ assessment of the period of time through which its financial
resources will be adequate to support its operations is a
forward-looking statement and involves such risks and
uncertainties. Accordingly, the Company could use its available
capital resources sooner than it currently expects.
In addition, the forward-looking statements
included in this press release represent Cibus’ views as of the
date hereof. Cibus specifically disclaims any obligation to update
such forward-looking statements in the future, except as required
under applicable law. These forward-looking statements should not
be relied upon as representing Cibus’ views as of any date
subsequent to the date hereof.
Cibus Contacts:
Investor Relations Karen
Troeber ktroeber@cibus.com 858-450-2636
Jeff Sonnek – ICR jeff.sonnek@icrinc.com
Media Relations Colin
Sanford colin@bioscribe.com 203-918-4347
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