BEIJING, Aug. 27, 2019
/PRNewswire/ -- Origin Agritech Ltd. (NASDAQ:
SEED) (the "Company" or "Origin"), an agriculture
technology and rural e-commerce company, today announced that
the Company has entered into a collaboration agreement with
Biotechnology Research Institute (BRI) of Chinese Academy of
Agriculture Sciences (CAAS) to speed up the commercialization of
genetically modified insect resistance and glyphosate tolerance
corn traits in China.
CAAS is a national, integrative agricultural scientific research
organization in China with
responsibility for carrying out both basic and applied research, as
well as research into new technologies impacting agriculture. BRI
of CAAS is the only public, non-profit institution focusing on the
frontiers of both basic and applied research of agro-biotechnology
in China. The Key Laboratory of
Agricultural Genomics, Ministry of Agriculture (MOA) and the Center
for Biosafety Assessment of GMOs are affiliated with BRI.
Over the years, Origin has been cooperating with CAAS in
developing various GM traits, including a double stacked corn trait
for insect resistance and glyphosate tolerance traits. The double
stacked corn trait protects corn from both insect damage and
glyphosate spray, and hence can improve crop yield significantly.
This double stacked trait has passed most of the multi-phase
biosafety approval processes and is in the final stage of
commercialization approval for biosafety certification.
The new collaboration agreement deepens our cooperation with BRI
and mainly focuses on related research for commercialization of the
double stacked corn trait of insect resistance and glyphosate
tolerance. Origin and BRI will join together to apply for
government sponsored funds and share research facilities and
capabilities, as well as the potential benefits. Both Origin and
BRI will also work together to promote the commercialization of the
stacked corn trait, which Origin has been developing based on the
fundamental research from CAAS.
According to the "Thirteenth Five Year State Science and
Technology Innovative Plan" published by the Chinese government in
2016, the Chinese government has set a target for the
commercialization of corn seed GMO technologies during the central
government's Thirteenth Five-Year Plan, which ends in 2020.
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 technology and a
rural social e-commerce company, expanding in mid-2018 from crop
seed breeding and genetic improvement business to be a leading
technology developer in new rural e-commerce platform and
Blockchain technologies. In 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. For further information, please visit the Company's
website at: http://www.originseed.com.cn or
http://www.originseed.com.cn/en/.
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, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. 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 are based on management's current expectations,
assumptions, estimates and projections about the Company and the
industry in which the Company operates but involve a number of
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 or obligation 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.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and actual
results may differ materially from the anticipated results. You are
urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not
to place undue reliance on such forward-looking statements, which
are qualified in their entirety by these cautionary
statements.
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SOURCE Origin Agritech Limited