DES MOINES, Iowa and EINBECK,
Germany, Nov. 29, 2017 /PRNewswire/ -- Origin Agritech
Ltd. (Nasdaq: SEED) ("Origin" or the "Company"), an agricultural
biotechnology trait and seed provider, announced today that the
company has entered into a commercial biotechnology trait and corn
germplasm license agreement with KWS SAAT SE (KWS), one of the
world's leading plant breeding and seed companies. This agreement
facilitates KWS' entry into China's corn biotechnology trait and expanded
seed market.
Under the agreement, Origin will combine insect resistance and
herbicide tolerance traits co-developed by the Chinese Academy of
Agriculture Sciences and Origin Agritech into KWS corn inbred
lines. Biotech-enhanced corn is planned to be deployed upon Chinese
commercial and regulatory approval. Future biotech enhanced
versions of these products will also be made available to KWS to
serve Chinese farmers.
"KWS has been a strong strategic partner in the development of
Origin's new insect resistant and herbicide tolerant traits, and
this agreement is a key milestone for our company," said
Bill Niebur, CEO, Origin Agritech.
"This collaboration enables Origin to deliver the value of the new
traits when integrated into the strong genetics of KWS. We believe
that the deployment envisaged by this and previous agreements could
provide Origin's technology greater access to the future biotech
corn market, which we estimate could become a $1 billion market opportunity."
KWS has 160 years of plant breeding history, a 70-country
footprint and a strong reputation in China.
"We are happy about the opportunity to combine Origin's traits
with KWS genetics to develop highly performing insect resistant and
herbicide tolerant seed varieties which would be of high value for
the Chinese farmer," said Gyula
Szelle, head of East-SE Asia Corn and Oilcrops at KWS. "It
will continue to be our ambition to offer our high-quality corn
seed to the Chinese market through our affiliates and licensees
there and with regard to future policies."
Aligned with the goals of the China Ministry of Agriculture,
Origin will continue to support the advancement of agricultural
biotechnology. The recent 13th Five Year Plan released by the
Chinese government pushes for accelerated development of biotech
crops, emphasizing insect control for maize and herbicide tolerance
for soybeans.
"We are committed to modernizing China's agriculture system and improving the
country's food security," Niebur said. "Our partnership and
commercial agreement with KWS will advance Origin's mission of
providing agricultural solutions for today's growing world through
being the preferred partner for and from China in biotechnology."
About Origin Agritech Limited
Origin Agritech Limited, founded in 1997 and headquartered in
Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, is China's leading agricultural biotechnology
company, specializing in crop seed breeding and genetic
improvement. Leading the development of crop seed biotechnologies,
Origin Agritech's phytase corn was the first transgenic corn to
receive the Bio-Safety Certificate from China's Ministry of Agriculture. Over the
years, Origin has established a robust biotechnology seed pipeline
including products with glyphosate tolerance and pest resistance
(Bt) traits. Origin operates breeding stations nationwide located
in key crop-planting regions. Product lines are vertically
integrated for corn. For further information, please visit the
Company's website at: http://www.originseed.com.cn
or http://www.originseed.com.cn/en/.
About KWS SAAT SE
KWS is one of the world's leading plant breeding companies.
In fiscal 2016/17, 4,950 employees in 70 countries generated net
sales of EUR 1,080 million and
earnings before interest and taxes (EBIT) of EUR 132 million. A company with a tradition of
family ownership, KWS has operated independently for more than 160
years. It focuses on plant breeding and the production and sale of
seed for corn, sugar beet, cereals, rapeseed and sunflowers. KWS
uses leading-edge plant breeding methods to continuously improve
yield and resistance to diseases, pests and abiotic stress. To that
end, the company invested EUR 190
million last fiscal year in research and development, 17
percent of its net sales. For more information:
www.kws.com. Follow us on Twitter® at
https://twitter.com/KWS_Group.
*All figures exclude the companies carried at equity
AGRELIANT GENETICS LLC., AGRELIANT GENETICS INC. and KENFENG – KWS
SEEDS CO., LTD.
Forward-Looking Statements
This communication contains "forward-looking statements" as
defined in the federal securities laws, including Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements address expected
future business and financial performance and financial condition,
and contain words like "expect," "anticipate," "intend," "plan,"
"believe," "seek," "will," "would," "target," and similar
expressions and variations. Forward-looking statements address
matters that are uncertain. Forward-looking statements are not
guarantees of future performance and are based on assumptions and
expectations which may not be realized. They also involve risks and
uncertainties, many of which are beyond the company's control. Some
of the important factors that could cause the company's actual
results to differ materially from those discussed in
forward-looking statements are: failure to develop and market new
products and optimally manage product life cycles; ability to
respond to market acceptance, rules, regulations and policies
affecting our products; failure to appropriately manage process
safety and product stewardship issues; changes in laws and
regulations or political conditions; global economic and capital
markets conditions, such as inflation, interest and currency
exchange rates; business or supply disruptions; natural disasters
and weather events and patterns; ability to protect and enforce the
company's intellectual property rights; and separation of
underperforming or non-strategic assets or businesses. The company
undertakes no duty to publicly revise or update any forward-looking
statements as a result of future developments, or new information
or otherwise, should circumstances change, except as otherwise
required by securities and other applicable laws.
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SOURCE Origin Agritech Ltd