Calyxt, Inc. (NASDAQ: CLXT), a consumer-centric, food- and
agriculture-focused company, and Farmer’s Business Network, Inc
(FBNSM), the independent farmer-to-farmer network, today announced
a partnership to expand the distribution and grower base of
Calyxt’s identity-preserved high oleic soybeans in the upper
Midwest.
As a specialty food ingredients company Calyxt has been building
its supply chain in preparation for the commercial launch of its
first product, high oleic soybeans in 2018. FBN has been scaling up
its analytics, agricultural inputs distribution infrastructure,
farmer member base and geographical reach, now representing over 16
million acres of farms. By working together, the companies will be
able to offer turnkey solutions aiming to increase profitability
for farmers interested in growing identity-preserved soybeans.
This new partnership enables FBN DirectTM to distribute Calyxt’s
identity-preserved high oleic soybean seeds to growers in its
network and register farmers for Calyxt’s Producer Premium
Program.
“This unique partnership with Calyxt allows farmers to grow
identity-preserved crops and expand their profitability in a time
of low commodity prices,” said Amol Deshpande, Chief Executive
Officer and Co-Founder of the Farmers Business Network. “Working
with Calyxt allows FBN members to get paid premiums for producing
crops that benefit consumers.”
“Working with the FBN is a great strategic fit given the
complementary business models of both companies,” added Federico
Tripodi, Chief Executive Officer of Calyxt. “Calyxt’s focused
innovation to create healthier foods for consumers, is now enhanced
by the rapidly growing FBN farmer network. The companies together
will disrupt the ag and food space by delivering innovative
products and solutions directly to both farmers and consumers.”
“Through utilizing the rapidly growing FBN farmer network,
Calyxt will not only be able to develop a dedicated, high-quality
grower base for the commercial launch of its high-oleic soybeans in
2018, but will also allow the Company to rapidly bolster its supply
chain operations in the upper Midwest,” concluded Manoj Sahoo,
Chief Commercial Officer of Calyxt. “It’s a win-win for farmers and
consumers alike, and we are one step closer to truly making history
by bringing food products to people all over the country who want
to lead a healthier lifestyle with more nutritionally rich
foods.”
About Calyxt
Calyxt, Inc. is a consumer-centric, food- and
agriculture-focused company. By combining its leading gene-editing
technology and technical expertise with its innovative commercial
strategy, Calyxt is pioneering a paradigm shift to deliver
healthier food ingredients, such as healthier oils and high fiber
wheat, for consumers and agriculturally advantageous crop traits,
such as herbicide tolerance, for farmers. Calyxt is located in
Minneapolis-St. Paul, MN, and is listed on the Nasdaq market
(ticker: CLXT).
For further information please visit our website:
www.calyxt.com
Calyxt™ and the corporate logo are trademarks owned by Calyxt,
Inc.
TALEN® is a registered trademark owned by the Cellectis
Group.
About Farmer’s Business Network, Inc.
Farmer’s Business Network, Inc. is an independent
farmer-to-farmer network, built by and for Farmers,
representing Farmers FirstSM. FBN members receive
comprehensive farm benchmarking, real world seed performance, input
optimization and pricing analytics based on over 115 million acre
events of real-world precision agronomic data. The FBN
Direct e-commerce platform provides national, transparent
pricing on ag chemicals, fertilizers, seeds, technology and
services. FBN Crop MarketingTM provides farms premium
contracts, production contracts, risk management, and price
intelligence powered by a global buyer network.
The FBN Network has grown to over 16 million acres of
member farms in the US and Canada. Blending the best of Midwestern
agricultural roots and Silicon Valley technology, the company has
offices in San Carlos, California, and a National Operations Center
in Sioux Falls, South Dakota, and employees spanning 25 states and
Canadian provinces.
The FBN Network’s mission of creating a better farm
economy has earned the support of world-class technology investors
GV (formerly Google Ventures), DBL Partners, Kleiner Perkins
Caufield Byers LLP, Bow Capital, Acre Venture Partners, Temasek,
and T. Rowe Price. To learn more,
visit: www.farmersbusinessnetwork.com.
Calyxt Forward-Looking Statements
This communication contains “forward-looking statements” within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. In some cases, you can
identify these statements by forward-looking words such as “may,”
“might,” “will,” “should,” “expects,” “plans,” “anticipates,”
“believes,” “estimates,” “predicts,” “potential” or “continue,” the
negative of these terms and other comparable terminology. These
forward-looking statements, which are subject to risks,
uncertainties and assumptions about us, may include projections of
our future financial performance, our anticipated growth strategies
and anticipated trends in our business. These statements are only
predictions based on our current expectations and projections about
future events. There are important factors that could cause our
actual results, level of activity, performance or achievements to
differ materially from the results, level of activity, performance
or achievements expressed or implied by the forward-looking
statements, including those factors discussed under the caption
entitled “Risk Factors” in our registration statement on Form S-1,
along with our other filings with the U.S. Securities and Exchange
Commission. We do not assume any obligation to publicly provide
revisions or updates to any forward-looking statements, whether as
a result of new information, future developments or otherwise,
should circumstances change, except as otherwise required by
securities and other applicable laws.
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version on businesswire.com: http://www.businesswire.com/news/home/20171212006355/en/
For CalyxtMediaJennifer Moore, 917-580-1088VP
Communicationsmedia@calyxt.comorCaitlin Kasunich / Nick Opich,
212-896-1241 / 212-896-1206KCSA Strategic
Communicationsckasunich@kcsa.com /
nopich@kcsa.comorInvestor RelationsSimon Harnest,
646-385-9008VP Corporate Strategy and
Financesimon.harnest@calyxt.comorFor Famer’s Business
NetworkMegan Fallon,
612-877-0387mfallon@farmersbusinessnetwork.com
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